Something strange is happening in Washington. As the Senate haggles over Wall Street Reform, it's getting stronger, not weaker. That's not how Washington usually works. Usually, a stronger bill is introduced and as the lobbyists and special interests poor millions into Capitol Hill, the legislators cave in. It's not happening this time.
Consumer advocates have scored some surprising victories in the overhaul of financial regulations that's gaining momentum in Congress, but amendments to be considered in the coming days will go a long way toward shaping the sweeping measure...
So far, Wall Street's formidable lobbying power has not weakened the bill, as some observers expected. The Senate, for instance, soundly defeated a move by Republicans to limit the powers of a proposed Consumer Financial Protection Bureau.
Meanwhile, lawmakers approved an amendment that would allow the Federal Reserve to cap debit card fees that big banks charge merchants.
"We're winning more than we're losing," says Ed Mierzwinski of U.S. Public Interest Research Group. He partly credits a recent Securities and Exchange Commission lawsuit that accuses Goldman Sachs of failing to disclose key information about an investment it sold in 2007.
It's not just conditions, it is your pressure. So, keep it up. Keep calling your Senators and demanding that they continue to stand up to the Wall Street lobbyists and produce a strong bill that helps working families.