Boehner echoes Senate GOP claim that financial bill creates 'permanent bailout'

The office of House Minority Leader John Boehner, Wednesday claimed that the Senate's financial bill will create a "permanent bailout" for large Wall Street firms.

The claim is the same one being made by Senate Minority Leader Mitch McConnell (R-Ky.) and other Senate Republican leaders. 

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In release to reporters by Boehner's office, the Ohio Republican's staff claims the bill "sets up a fund for permanent bailouts that guarantees taxpayers are going to have to keep subsidizing irresponsible behavior on Wall Street, and lets the federal government pick winners and losers in the private sector."

The message came after Boehner and other congressional leaders met with President Barack Obama at the White House about the financial bill, a top priority of the administration.

Senate Banking Committee Chairman Chris Dodd (D-Conn.), the architect of the upper chamber's bill, took to the Senate floor Wednesday to push back against GOP claims that the legislation creates a so-called permanent bailout fund.

"No matter what is proposed, no matter what’s in the bill, no matter what protections it includes, call it a bailout," he said. "It’s a naked political strategy, and if it succeeds, and this legislation goes down, and another crisis sinks the American economy, then the next recession and all of the damage it will bring to middle class families will have happened for the sake of that false talking point."

The House's financial bill was passed last year with no GOP support.

Tying the push for financial reform to the last, divisive measure to pass through Congress, Boehner's office said that the bill includes "special deals and carve-outs, just like in healthcare." 

But Dodd countered, saying that he had worked with GOP leaders to craft the bill.

"Senator Shelby and I have been working together for over a year on these issues, and I cannot for the life of me understand how anyone could claim with a straight face that this is a partisan effort," he said.

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