Democrats in the Senate are trying to stop a Republican filibuster of the financial services regulatory bill. They think that forcing a vote today, tomorrow, the next day and so on will make Republicans look bad, because EVERYBODY hates Wall Street and should be clamoring for more regulation.
The problem for Democrats is that the American people aren’t stupid. They know a permanent bailout when they see it. The Democrats can claim they are getting tough on Wall Street, but it just doesn’t sell because so much of Wall Street is a part of the Obama Administration now. Goldman Sachs employees gave more money to Obama’s campaign (more than $900,000) than any other private sector employees (only employees from the vast University of California coughed up more dough.)
This is just a partial list of the Goldman Sachs connections: Gary Gensler, the chairman of the Commodity Futures Trading Commission; Mark Patterson, a former Goldman lobbyist who is chief of staff to Treasury Secretary Timothy Geithner; and Robert Hormats, the undersecretary of state for economic, energy and agricultural affairs.
On a slightly different note, check out this video from the folks at Americans for Prosperity.