The Corner

It’s What the Founders Would Have Wanted

A fundraising letter from Barney Frank:

Jonah –

The extremists who control the Republican Party have engaged in one of the most implausible masquerades in history by trying to identify themselves with the American Colonials who revolted against British rule.

In fact, as I prepare to go to the floor of the House this week to defend a package of tough financial reforms and consumer and investor protections, I confront a hostile, virtually unanimous Republican Party, which has a major characteristic in common with a different set of eighteenth century figures – the kings of France. When the French monarchy was restored to power in the 19th century, it was said that “The Bourbons have forgotten nothing because they learned nothing.”

Current House Republicans now oppose financial regulation because they have learned nothing from the current economic crisis.

It is time to stand up against them and we need your help now.

The Republicans have opposed virtually every proposal we have put forward to prevent another financial meltdown. They have fought bitterly against the establishment of a consumer financial protection agency; they have blocked efforts to restrict executive compensation; they are against regulation of derivatives, and they have opposed efforts to restrain predatory lending.

But their opposition to any serious financial regulation has some substantial benefits to Republicans in the form of campaign contributions from institutions which want to be able to continue their financial manipulations unimpeded.

I ask your financial support for the Democratic Congressional Campaign Committee, so that Members who vote in favor of tough financial regulation will know that we will stand with them when they are attacked by candidates backed by powerful defenders of the status quo.

Please consider contributing $5, $10 or more today to the DCCC’s Main Street Democratic Fund to help support Democrats who put Main Street first. Your gift will be matched by House Democrats 2-to-1.

There is so much at stake. The time to help is now.

Thank you,

Barney Frank

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