Stop Too Big To Fail

New Ad: The Big Banks Back Reform, So Let's Kill The Bill (VIDEO)

Justin Elliott | May 6, 2010, 9:22AM

A screen shot from a Stop Too Big To Fail ad

The latest TV ad from shady anti-financial reform group Stop Too Big To Fail advocates killing financial reform legislation because, the ad claims, the big banks actually want to see reform happen.

The ad follows the same "bailout, bailout -- BAILOUT!!" script of the group's previous ads, but with a new twist. Now, instead of misrepresenting the position of a progressive economist (as the group did with Simon Johnson and Robert Reich), Stop Too Big To Fail makes the twisted argument that financial reform should be defeated precisely because big bank CEOs have made extremely broad statements of support for a regulatory overhaul.

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Stop Too Big To Fail

Reich Blasts Anti-Reform Group For 'Cynically Distorting' His Words In TV Ad

Justin Elliott | April 27, 2010, 2:07PM

Former Labor Secretary Robert Reich

Former Clinton Secretary of Labor Robert Reich today slammed an anti-financial reform group that is using his name and image in a new television ad for "cynically and purposefully distorting what I said."

As we noted earlier, the group, Stop Too Big To Fail, today announced new ads in three states calling for senators to vote against financial reform. The ad at one point flashes Reich's picture and the female narrator says, "Even President Clinton's secretary of labor said [of the Dodd bill], 'it preserves the possibility that the Fed could launch another bank bailout.'"

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Stop Too Big To Fail

Shady Anti-Financial Reform Outfit Cites Robert Reich In New Ad (VIDEO)

Justin Elliott | April 27, 2010, 12:50PM

A screen shot from a Stop Too Big To Fail ad featuring former Labor Secretary Robert Reich

The shady anti-financial reform group Stop Too Big To Fail today announced a new TV advertising push in three key states that features an out-of-context quote from former Labor Secretary Robert Reich to bolster its case to kill financial reform.

As TPMmuckraker has reported, Stop Too Big To Fail is the project of a veteran astroturf operation called Consumers for Competitive Choice, and it's using the services of an ad agency that worked with the Swift Boat Vets For Truth in 2004. It has already spent $1.6 million on anti-reform ads and won't say who's funding the group's efforts.

Stop Too Big To Fail previously featured progressive economist Simon Johnson on one of its media conference calls before he realized the goals of the outfit and demanded it stop using his name. Now, Stop Too Big To Fail has turned to using Reich to add credibility to a message designed to sound progressive, while in fact advocating to kill the financial reform legislation.

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Stop Too Big To Fail

Maddow Tackles Anti-Financial Reform Group 'Stop Too Big To Fail' (VIDEO)

Justin Elliott | April 22, 2010, 8:53AM

Rachel Maddow

Last night Rachel Maddow took on the anti-financial reform group with a liberal-sounding message, Stop Too Big To Fail, with a special focus on DCI Group, the Washington astroturf specialists who have links to Stop Too Big To Fail.

Maddow notes that DCI used to work for the anti-health reform Coalition to Protect Patients' Rights, and DCI execs' were previously at R.J. Reynolds setting up so-called Smokers' Rights Groups.

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Simon Johnson

'Stop Too Big To Fail' Group Yanks References To Economist From Website

Justin Elliott | April 21, 2010, 5:46PM

A screen shot from a previous version of the Stop Too Big To Fail website

The group Stop Too Big To Fail, which TPMmuckraker profiled earlier, has pulled all references to respected economist Simon Johnson from its website.

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Stop Too Big To Fail

Rent-A-Front: New Group Wages Stealth Battle Against Wall Street Reform

Justin Elliott | April 21, 2010, 2:50PM

Consumers for Competitive Choice President Bob Johnson (inset)

In the last few weeks, a new player entered the financial reform fray with a $1.6 million ad buy, a respected economist on board, a blitz of opinion columns on left-leaning websites, and a message, cooked right into the group's name -- Stop Too Big To Fail -- that liberals could love.

But as TPMmuckraker has looked into the group, every indication is that Stop Too Big To Fail is an astroturf operation funded by corporate interests to give the appearance of grassroots opposition to reform.

The group's leader has a long history running a rent-a-front operation: offering up his services to large corporations who are willing to pay top dollar for a "consumers group" that will engage in stealth advocacy on behalf of industry. The group refuses to divulge its funding sources. The respected economist whose support the group touts now says he was deceived. And Stop Too Big To Fail has links to DCI Group, one of Washington's best-known astroturf operators.

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