In it, but not of it. TPM DC

Frank On GOP Opposition To Wall Street Reform: Bring It On (VIDEO)


Frank said he's confident that Republicans won't be able to stand together to filibuster regulatory reform, and that, when a bill passes, he welcomes Republican negotiators to publicly argue against key provisions of the legislation, including a proposal to create a federal Consumer Financial Protection Agency.

"We're going to sit in public and have a nice conference and you can all cover us and let the Republican members of that conference from the Senate vote to kill this independent agency," Frank said.

At her press conference last week, House Speaker Nancy Pelosi was equally daring:

"As we go forward, we will see if the Republicans are willing to reform Wall Street," she said. "Wall Street reform--we said yes, they said no. So, as we go forward, it is just a question of what they believe. Bipartisanship is nice, but it cannot be a substitute for action. Not having it cannot prevent us from going forward. So, if they don't want to regulate Wall Street, we do. And we will. We would hope it would be bipartisan."

Of course, negotiations in the Senate are ongoing, and somewhat fragile, and it's not clear how much Senate Democratic principals welcome this bravado. But they may just be stuck with it. Video below:

About The Author


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