Democrats Continue Power Surge with Probable Financial Overhaul

Much as the health care situation the Democrats have decided they need to create another showdown with the Republicans. This time it is resisting a Republican appeal for financial compromise on an overhaul of legislation with respect to a "Wall Street crackdown." The problem is right now the Democrats seem more interested in showing power than in getting decent legislation.

June Kuhnhenn, an Associated Press writer, has posted an article titled, "Democrats wanting to test GOP in Wall Street showdown." As has been reported this legislation is the greatest sweeping reform since the great depression.

Perhaps one difference between this and the legislation with respect to the health care is voters seem to be a little more in favor of harsh tactics regarding the banks. There is no question their opposition to health care has been voiced. However, it doesn't matter to the Democrats; it appears they have decided to do what they want while in office. That alone should scare voters. There will apparently be a vote today to move ahead.

Public opinion is leaning toward more regulation of large financial institutions. This is a reaction to the 2008 financial crisis. The reform is designed to liquidate banks that show they are going to fail and create a consumer protection agency. However, it does nothing with respect to problem organizations such as Fannie May and Freddie Mac, who lost billions in bad loans during that same time frame.

I have been very angry since the Democrats have enacted the health care legislation. I think that they have done it despite the desire of "the people." However here we have a situation where people seem to be in favor of tough legislation and government involvement.

I am just one person of millions and millions. The truth about what people want is going to come out in November. If they like the pushing and heavy-handed tactics of the Democrats then Democrats will remain in office this November. If they don't there will be a lot of new Republican faces this fall.

I think it will be good for the country if we get more Republicans and I used to think it was going to be a "slam-dunk," but now with people supporting this legislation I'm not so sure.

References:

http://news.yahoo.com/s/ap/20100426/ap_on_bi_ge/us_financial_overhaul