Firing Back in Wall St.’s Reform War


Americans for Financial Reform, a leading advocacy group lobbying for major regulatory crackdowns on Wall Street, released a new ad today coming to the defense of Sen. Jon Tester (D-MT), who’s been under fire lately for his support for an independent Consumer Financial Protection Agency and for generally backing greater reforms of the financial markets. In particular, Tester’s been taking a lot of heat from a secretive, deep-pocketed organization called the Committee for Truth in Politics, which has targeted Tester and called the financial reform supported by the Montana senator a $4 trillion bank bailout in disguise. (That language, you’ll remember, comes from a memo circulated by consultant Frank Luntz trying to torpedo Wall Street reforms.) Earlier this month, Tester called the committee’s attacks on him “flat-out false,” and asking to see the source of the committee’s funding, which it doesn’t publicize. “Our economy almost collapsed a year and a half ago because there were no referees on Wall Street,” Tester wrote in a statement. “Montana’s Main Street small business owners and families should never have to pay the price of greed on Wall Street.”

Here’s the ad:

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  • Andy Kroll

    Andy Kroll is an investigative reporter at Mother Jones. For more of his stories, click here. Follow him on Twitter here. Send tips, scoops, and documents to akroll (at) motherjones (dot) com.