The scent of financial regulation reform — a thing some people think we might need — is wafting through Washington, and Senate Minority Leader Mitch McConnell can't take the smell.
That's why he wants Democrats to get out of the kitchen…
The House has passed its version of a finance reform bill, and now Democrats seek to bring a Senate version up for chamber debate this week. The Senate bill, approved by Democrats on the Senate Banking Committee, would set up new regulatory oversight of financial industry practices.
Sen. Mitch McConnell of Kentucky, the chamber's top-ranking Republican, told CNN's "State of the Union" that the Democratic bill would continue the Obama administration's intervention in formerly private industries. He called for renegotiating the measure instead of bringing it to the Senate floor.
"I think we need to get back to the table and get it fixed," McConnell said. "We want to make sure that we don't set up a system whereby we empower the government to continue doing what they've been doing."
Much better to empower financial institutions to continue doing what they've been doing. You have to admit, they've been doing it well.
Tags: Banks, Economy, Mitch McConnell, Republicans, Senate