Word: obamas
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...stand to lose significant ground in the midterm elections. Although punishing sitting presidents with Congressional losses is ingrained in the American political tradition, recent polls suggest that voters may put an unusually severe dent in the Democrats’ current congressional majority. As the leader of his party, President Obama must take it upon himself to stop the bleeding. If he wants to protect Congressional Democrats in November, Obama must better recast his health-care pitch and correct misconceptions about his handling of the financial crisis to frame his presidency as responsive and effective...
...Obama clearly wants reform; he's been outspoken about the need for a dramatic regulatory overhaul to prevent another financial meltdown. But he's been so outspoken - especially about the consumer agency - that it would be tough for him to accept anything less dramatic than his tough proposals. And many Democrats see an uncompromising stance against Wall Street as a political winner; if it doesn't produce a bill, they're happy to have an issue they can use against Republicans in the fall...
...Bashing the Banks Help Obama...
...Meanwhile, the default position for the GOP in the Obama era is no, and while its united recalcitrance failed (barely!) to stop health care, that's likely to make its leaders even less eager to hand the President another big victory. For reasons of anti-regulatory ideology as well as intense pressure from banks and other business lobbies, many Republicans - and some conservative Democrats - are deeply uncomfortable with a financial crackdown in the first place. Senator Bob Corker has been the GOP's leading voice for compromise, even criticizing his own party's intransigence, but he also told me many...
...skepticism: financial reform is so complex and confusing, with so many moving parts, that excuses to say no will be exceedingly easy to find. Even a group of staunch like-minded reformers would have a hard time finding common ground; in fact, that's exactly what happened inside the Obama Administration, which is why the President recently proposed new add-on provisions limiting bank size and speculation. So how hard is it going to be for the less staunch to find something in the bill to reject? It's worth noting that the 100%-confident Gregg and Democratic Senator Jack...