The issue is that the House version of the protection agency is stronger and better than the Senate version. On the other hand, in other areas, the Senate version is better. The committee that will reconcile the two versions can make the bill much stronger or much weaker. Wall Street is gearing up to make sure it's weaker:
"There's no substitute for old-fashioned gumshoe lobbying," Scott Talbott, a senior executive with the lobbying group, told The New York Times. "The staff here knows it. We offer to resole their shoes when they wear them out." ...
The senators named to the conference committee have received a more than $57 million in total during the course of their careers from the finance, insurance and real estate (FIRE) sector, according to information from the Sunlight Foundation.
Holt is right, the conference committee members must strengthen reforms after Wall Street lead us into a disaster not seen in generations. Democrats need to be firm because Republicans are not going to play a helpful role.
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