The GOP is of course against any reform. They are an extension of Wall Street and have been living the high life from their lobbyist money. Dodd is promising a lot though the specifics still are light. Democrats need to remember that 82% of Americans support reform. It's time to paint the GOP as part of the 18% who are fighting reform. Let the Republicans explain to the public who very kindly bailed out Wall Street why they are being obstructionists yet again. Few issues gather such broad support so there's no excuse for going wobbly on this. Another soft showing by the Democrats and they will lock down their image as weak and unable to govern with the public. NY Times:
Democrats said on Thursday that they would go it alone in an effort to pass an overhaul of financial regulation, increasing the likelihood of a bitter partisan showdown.
Senator Christopher J. Dodd of Connecticut, chairman of the Senate Banking Committee, said he would put forward his own bill on Monday, despite the lack of a single Republican endorsement. Democrats concluded that bipartisan talks were not making enough progress and that going their own way was the only realistic hope of getting the legislation adopted in an election year, he said.
Mr. Dodd said the bill would rewrite the rules of Wall Street, end the “too big to fail” phenomenon and protect consumers from risky or abusive financial products. The Congressional calendar meant that further delay could imperil the legislation’s chances, he said.
