GOP favors Wall Street over Main Street: Dem chairman

Congressional Republicans “never cease to amaze in reaching new lows,” Iowa Democratic Party Chairman Michael Kiernan said Thursday after learning Republicans are seeking to raise money from Wall Street and the banking lobby.

According to news reports, the GOP has suggested it would stymie financial regulatory reform and protect banks from the type of oversight that could prevent another financial collapse.

“The GOP is again putting the interests of Wall Street over the needs of Main Street,” Kiernan said. “By essentially offering a quid pro quo to Wall Street bankers, Republicans have shown that their interest is not in helping everyday Americans get back on their feet and ensure that those responsible for the latest financial crisis are held responsible. Instead, Republicans are showing that they are willing to sell themselves to the highest bidder for political and economic gains.”