Reply #19: I am paying attention. I have the news on all day at work. [View All]

[dkf]

I saw Barney Frank on several shows with my own two eyes saying banks would have years to do somethig about this. 5 years he said.

And then I found this at FT.COM:

Nor can Mr Obama rely on unity within his own party, which has been in disarray, if not panic, since Tuesday. For example, Mr Obama’s more populist tack on Wall Street re-regulation failed to attract endorsement from Chris Dodd, chairman of the Senate banking committee, even though he was present when Mr Obama made the announcement.

Others, such as Tim Johnson, Democratic senator for South Dakota and a senior member of the banking committee, were already opposed to elements of Mr Obama’s regulatory proposals including the plan to establish a consumer financial protection agency.

snip

Finally, there is increasingly open Democratic disaffection about the way Mr Obama is managing relations with Capitol Hill. Many believe that Rahm Emanuel, Mr Obama’s aggressive chief of staff, served Mr Obama badly by persuading the president that his election was a transformational moment in US politics that gave him the opportunity to push through long-cherished Democratic goals, such as healthcare reform.

In fact, exit polls from Mr Obama’s election showed that almost two-thirds of the voters cited the economy as their chief concern, with fewer than one in 10 mentioning healthcare. Mr Emanuel is also perceived to have mishandled the day-to-day logistics of getting healthcare through Congress.

http://www.ft.com/cms/s/0/821dce96-0786-11df-915f-00144feabdc0.html