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28 April 2010

GA Dems: Isakson Putting Wall Street Friends Ahead Of Country

For two straight days, U.S. Senator Johnny Isakson (R - Georgia) has voted against the motion to cut off debate on the financial reform designed to end "too big to fail." [SENATE VOTE #124, #126] Isakson's position has Democrats in Georgia accusing him of being a pawn for big banks and Wall Street.

The state Democratic Party points to campaign disclosures that show Senator Isakson has taken over $1 million from miscellaneous financial firms, including Bank of America, Citigroup and SunTrust. The Democrats say these donations show a willingness to side with Wall Street during this period of American peril.

"Democrats want to make the banks and speculators pay for the costs of their mistakes so taxpayers never again have to bail out these institutions," said Georgia Democratic Party chairman Jane Kidd. "Senator Isakson is putting his friends on Wall Street ahead of the financial security of the country."

Senate Bill 3217 is described in its caption as "An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes."