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Tea Party Groups Protest Financial Reform

Tea Party Nation blasted out an email asking its Tennessee members to protest Sen. Bob Corker (R-Tenn.) and stop financial reform legislation — which conservatives have done a lot to define, under the radar, as some sort of socialist scheme.

Senator Bob Corker (RINO-TN) has announced there is a compromise with Chris Dodd (read that as a total Republican surrender) that will allow financial regulation to go forward.

This will include:

  • Making the major players in the financial sector “too big to fail”
  • Authorizing the Federal Reserve to provide as much as $4 Trillion dollars the next time Wall Street crashes.
  • Allows the government to back financial firms’ “debts”
  • Creates a Board of Regulators to “spot” financial risks. (Could this be made of the same group of geniuses who missed all of the signs that led to this financial crisis?)

These are just the details we know about.

There’s actually some discussion going on inside Tea Party groups as to whether it’s worth continuing to hammer on health care or whether its fate is sealed and it’s important to pre-define the financial reform and energy fights. Here’s an example of moving on — Tennessee, after all, is home to two retiring Democratic congressman who may switch their “no” votes to “yes” votes and save health care reform.

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