Politico’s take
May 17, 2010 | federal legislation, industry | Comments (0)The bill is getting tougher on Wall Street:
The Wall Street reform bill is taking that rarest of paths through the Senate — actually gaining tougher provisions against the industry as it proceeds, not being watered down to win votes as health care reform was.
And that’s put Republicans in a difficult spot. They like the bill less with each passing day but know they risk looking like they’re siding with Wall Street if they vote no.
Even top Republicans such as Sen. Judd Gregg of New Hampshire predict the bill will pass as early as this week, but it’s not clear yet how many Republicans will be willing to sign on to legislation they say falls short in key areas.
“I’m very concerned about the direction of the bill,” Gregg said Sunday on C-SPAN, citing Democratic votes against a proposal by Sen. John McCain (R-Ariz.) on troubled mortgage giants Fannie Mae and Freddie Mac. “How can you take a bill up in the Senate and totally ignore that issue?”
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