Just wanted to get that out there.
As per Media Matters:
'Right-wing story time this week -- brought to you by Frank Luntz -- centered around the claim that financial reform legislation would encourage perpetual and permanent taxpayer bailouts. The genesis of this particular tall tale is Luntz's January memo that advised opponents of financial regulatory reform to tie the issue to big bank bailouts. Message received. Driving the clown car was Glenn Beck, who appeared on Fox & Friends to decry the "insane" idea of using $50 billion to save failing firms; Michelle Malkin claimed the bill would "institutionalize and make permanent financial bailouts"; Fox Business' Charles Gasparino said the bill contained a "slush fund" of "$50 billion to bail you out." Actually, the $50 billion fund would be paid for by the financial services industry and would cover the costs of the orderly liquidation of failing firms, quite clearly the opposite of a bailout. No worries. The Wall Street Journal's John Fund tried to argue that the bill was bad because it would bail out firms and because it let the government liquidate them. Rush Limbaugh complained that it was "a bailout bill, or a destroy 'em bill." Neat trick.'
As usual, our Republicans' talking points have been brought to you by Frank Luntz, supposed pollster and former worst-contributor to Hardball. Screw that guy.