I have to say even I was a little gob-smacked when Mitch McConnell simply said that the financial regulation bill was another bank bailout. But I found it fascinating as a glimpse into the RNC-FNC mojo. The idea is simply to lie about legislation and hope that FNC and the system designed for epistemic closure on the right would carry the day. Even if it is untrue - death panels, etc - it can become true for one half of the political system that has abandoned any relationship to the reality of hard choices, as opposed to the fantasy of some kind of 1950s nirvana.
It seems, however, that the bald-faced attempt to say that black is white has not exactly worked this time. I can see a successful financial re-regulation law getting passed soon, with sufficient GOP support. The best summary of the facts rebutting McConnell can be found here. This time, the facts seem to have won. But it was a close call.
By the way, have you begun to notice the massive amount of legislative change and action since Obama came to office? More will.