RINO To the Rescue

Sadly, the Senate Dems can always find one "Republican" foolish enough to believe their rhetoric:

A Senate Republican has called for the "strongest" derivatives rules, signaling that Democrats may get the votes needed to start debating their sweeping financial regulation bill on Monday.

Just days before the Senate was due to vote to start working on Democrats' legislation, Senator Olympia Snowe said that strong derivatives regulation goes to the heart of an effective financial reform bill.

"If we are to effectively regulate the derivatives market, we must start the Senate floor debate with the strongest proposal we can craft and defend against the inevitable attempts to weaken it," Snowe told Senate Majority Leader Harry Reid in a letter dated on Friday.

Democrats need to convince at least one of the 41 Republican senators to vote with them in order to start debating a bill to impose new rules for the financial system.

Snowe and other moderate Republicans such as Susan Collins are under pressure from the White House to support Democrats' efforts to overhaul the financial system.

Although Republicans had vowed on Friday to oppose Democrats' efforts until the sides were able to reach a bipartisan agreement, public anger over Wall Street's taxpayer bailout and Goldman Sachs' alleged fraud may force Republicans' hand.

Experts who have looked at the charges against Goldman say it's pretty much all smoke and mirrors and looks very much like a political prosecution designed to stir up anger against Wall Street and sway dummies like Snowe. It's working.

And what public anger is there against Wall Street, except that being manufactured by Obama and his cronies in the press? Most Americans don't care, but that's not how it's reported.

Chris Dodd wrote this bill which means it's a complete mess and Republicans need to stay away from it. Let's not forget it was Dodd and other Democrats that created the whole mortgage mess in the first place.