Obama, in fundraising email, declares victory over bank lobbyists 

Apparently, Barack Obama and the Democrats have once again vanquished the special interests:

On Thursday, the Senate passed historic Wall Street reform. This movement proved again that the strongest special interests, who for so long have called the shots in Washington, can be beat.

When opponents in Congress tried to block the legislation altogether, you stood up — and they backed down. When the lobbyists pushed for loopholes and exemptions just before a final vote, you did not relent — and we fought them off….

[T]he financial industry will not give up. They have already spent more than $1 million per member of Congress, lobbying on this issue. And in the coming days, they will go all in. This is their last shot to stall, weaken, or kill reform, and they are not accustomed to losing.

But this movement has you — and together, we have beaten the special interests before.

Please donate $5 or more today to help Organizing for America continue to mobilize thousands — to counter the special interests’ attacks and get strong Wall Street reform to my desk.

But this fight is not yet over. And it is up to us to overcome this final test and pass reform into law. When we do, the power of this movement to make change in Washington — despite the best efforts of the special interests — will no longer be up for debate.

Please donate $5 or more today.

Thank you,

President Barack Obama

Of course, this was the same language President Obama used back when he signed the tobacco regulation bill backed by the nation’s largest cigarette maker.

Obama bragged of “standing up to the special interests” when the Senate passed a health-care bill endorsed by the largest industry lobby in the country.

And so now he’s declaring victory over the Wall Street lobbyists (who are, interestingly, his friends, fundraisers, and former employees). I hate to say it, but there’s reason to doubt the veracity of the President’s statements.

FOOTNOTE: Reason Magazine’s Matt Welch has the led the league in calling Meadow Muffins* on the President, and he has a solid fact-check of the fundraising email, which wraps up nicely:

So to sum up: In order to push financial reform through the finish line, the president wants you to give him $5+ to counter special interest money that he pocketed to pass health care reform. Luckily for him, there’s one born every minute.

[*Yes, I invented the use of that euphemism in this context. Pass it on.]

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Timothy P. Carney

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