From The Washington Post -- April 29, 2010:
Democrats had embraced the GOP filibuster as an opportunity to portray Republicans as defenders of powerful special interests, in particular major banks and investment houses. Senate Majority Leader Harry M. Reid (D-Nev.) had threatened to keep the Senate in session overnight Wednesday to reap maximum political benefits.
Speaking at a rally in Quincy, Ill., an economically depressed Mississippi River town, President Obama hailed the bill's advancement and assured an exuberant audience of 2,300 people that the financial sector would face tough new restrictions. "It was one of those heads, they [win] -- tails, you lose" situations on Wall Street, Obama said. "What was working for them was not working for ordinary Americans."
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Again, this is not a black & white issue. There are many things wrong with this Bill. A more HONEST approach would be to site the various reasons that republicans oppose this Bill.
Another Progressive tactic: to charge that "Republicans fight to the death the right of big banks & investment companies to rob the public"
The truth is, Wall Street donated 2X's the money to Obama than McCain, and Obama has filled his Administration with the same people that were at the helm when the meltdown happened. (NY Daily News analysis of campaign records shows.)
Fannie Mae & Freddie Mac (who are mysteriously left out of this reform bill) donated heavily to Obama's campaign.
From what I can see, looks like it paid well to be on Wall Street and in charge over this meltdown. Not only did these people make tons of money, they also got new prestigious positions in the Administration. SCORE!
Chris Dodd (Countrywide anyone?) and Barney Frank ("Fannie & Freddie are solid") What a joke!
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