Democrats and Wall Street

According to Politico, “Senate Majority Leader Harry Reid (D-Nev.) said Thursday (4/22/10) that he will not wait for Democrats and Republicans to reach a bipartisan compromise on a Wall Street reform bill, scheduling the first key test vote for Monday.

 

“I’m not going to waste any more time of the American people while they come up with some agreement,” Reid said. “The games of stalling are over.”

 

“…Democrats have made a political calculation that at least some Republicans will feel compelled to back the bill Monday, even without any changes – and if they don’t, it’s the GOP that looks bad.”

 

It seems that Senate Majority Leader Reid, weary after the long health care battle, is not in the mood for another lengthy legislative fight. And for this reason alone he is better positioned to move the liberal agenda? I don’t think so. Also, just because the GOP is unwilling to support more bad liberal legislation they are the ones who are going to look bad? Again, I don’t think so.

 

The Republicans were hardly damaged goods after the health care debate. Currently, nearly every generic congressional poll has the Republicans in the lead. Rasmussen has the Republicans with a 10 point lead over Democrats.

 

Also, Americans are still strongly opposed to the Democrats’ latest and greatest legislative achievement, Obamacare. Rasmussen has Americans opposing Obamacare by 20 points. Quinnipiac shows the opposition up by 14 points, and the last Fox News poll reveals Americans opposing Obamacare by 15 points.

 

What’s more, with significant election victories in Virginia, New Jersey, and Massachusetts, Republicans should be nothing but emboldened when it comes to standing against the liberal agenda being championed by today’s Democrat Party. Of course, with the Massachusetts victory giving the Republicans 41 Senate seats, the Democrats can do nothing without some Republican support. As long as the polls stay where they are, what is the Republican motivation to relent?

 

Furthermore, despite the stereotypes, when it comes to financial reform, and when one actually looks at the facts, the Democrats are no position to paint themselves as standing against the big money and influence of Wall Street. According to this from Open Secrets, the current big money from large corporations OVERWHELMINGLY goes to Democrats over Republicans. Notice who is #65 on the list, tilting “Strongly Democratic.” That’s right. The liberal poster child for financial reform: Goldman Sachs.

 

And when it comes to the “party of the rich,” again according to Open Secrets, of the top 50 individual donors, 34 were “Strongly” to “Solidly” Democratic (one “Leaned” Democratic).

Given all of this, if Republicans stand firm and united and preach the facts, there is no reason to allow the Democrats another bad legislative victory. 

 

Copyright 2010, Trevor Grant Thomas