Obama to Launch Public Campaign for Wall Street Crackdown


Déjà vu, anyone?

With the Obama administration kicking its push for a Wall Street crackdown into high gear, both sides of the debate are turning to familiar strategy. Just like with health care reform, Republicans are ripping the package and telling Democrats to start over. And just like with health care reform, President Obama is tearing into Republican leaders and pushing ahead with a high-profile public campaign to promote the package.

But while another contentious debate might seem like the last thing Democrats want in an election year, senior administration officials tell Fox News that Obama is feeling the wind at his back after the health care battle and believes the push for tougher Wall Street regulation will boost his popularity. So once again, he’s taking the show on the road.

Officials said Sunday that the president plans to embark on a series of outside-the-Beltway rallies and town hall events where he will press for financial regulatory reform and turn up the heat on Senate Republicans. Some events will be built almost entirely around this topic, and, as with the health care push, Obama’s campaign arm Organizing for America will coordinate all moves with the White House.

“We cannot delay action any longer,” Obama said in a message sent around by Organizing for America over the weekend.

The president is treating the overhaul with the same kind of urgent and barbed rhetoric he used during the health care debate. Senior advisers have prioritized the financial bill as the most important political fight of the next two months — despite Obama’s pledge during his State of the Union address to make jobs legislation the top issue.

But there’s a big difference between the Wall Street and health care debates. This time, Democrats are entering the height of the debate one vote short of a filibuster-proof majority and have a strong incentive to negotiate.

The Obama administration offered a concession Friday, when it told Senate Democrats to drop a proposed $50 billion fund designed to finance the liquidation of a big financial institution facing collapse.

To read more, visit: https://www.foxnews.com/politics/2010/04/18/obama-launch-public-campaign-wall-street-crackdown/

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