Dems To Demand Answers From McConnell, Cornyn On Meeting With Wall Street Execs


A tough statement from Senate Majority Leader Harry Reid’s spokesman Jim Manley sets the tone for a flank of Senate Democrats’ messaging this week:

“Senators McConnell and Cornyn should immediately reveal what they discussed earlier this month during secret, closed-door meeting with Wall Street executives in New York City,” Manley said, adding:

Years of greed and excess on Wall Street cost 8 million jobs and trillions in wealth for middle-class families and small businesses. Since Republicans appear to be conducting backroom negotiations with these same people who took our economy to the brink of collapse, the public deserves to know what secret deals and carve-outs Republicans are offering Wall Street executives in exchange for their support.

McConnell, the Senate Republican leader, and Cornyn, the chair of the Republican Senate re-election committee, have come under increasing fire in recent days for a meeting they attended with dozens of Wall Street executives, suggesting cooperation on an opposition strategy to financial reform.

Senate Dem aides tell me that Senate Banking Committee Chairman Chris Dodd and other progressive Senators including Sen. Jeff Merkley (D-OR) and Sen. Sherrod Brown (D-OH) will be bringing this message to the Senate floor all week. On Wednesday, Brown will be introducing legislation, that would amend Dodd’s regulatory reform bill’s ‘too big to fail’ language.


Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at