In recent days, Barack Obama gathered with House and Senate Democrats in the Cabinet Room of the White House to “negotiate” health care. They no doubt grew alarmed as Scott Brown surged in the polls, but they seemed strangely unaware that their very actions — meeting behind closed doors in a rump legislative conference from which Republicans were excluded — were fueling the outrage that would make possible a Brown victory.
Even worse, when asked the impact on health care by a Brown victory, they sketched out various scenarios, from not immediately seating Brown to passing the bill under reconciliation, requiring only 51 Senate votes. The unceasing message to Massachusetts voters was that their vote did not count.
Anybody using the financial services industry puts their faith and trust in a whole lot of people they have never seen or ever will. We all rely on regulators and regulations that are instituted by state and federal governments. In fact, almost anybody who has any savings probably has them parked in one of our financial institutions. To sharpen your focus on this, remember that about 80% of the balance of your checking account is tied up in loans that some strangers have promised to repay.
The mortgage foreclosure crisis in this country may have been superseded by events in Japan, Libya and elsewhere for now, but in its own way it's taking a heavy toll. And it's likely to get worse, given the context of evidence that an Obama-initiated homeowner subsidy program to stem the tide isn't working and of a new federal agency poised to extract $20 billion from lenders on behalf of heavily delinquent borrowers.
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The Securities and Exchange Commission (SEC) is 
Radio and television broadcasters - at least those catering to black and Hispanic audiences - soon may join financial services and auto manufacturers as the beneficiaries of a federal bailout. For the last half year, a group of executives of minority-themed media enterprises have been lobbying Capitol Hill to provide a boost to their money-losing operations. Having natural allies in the black and Hispanic congressional caucuses, they may win additional support from the Obama administration and any number of white lawmakers eager to expand their base of support. As it is, one of its key members already may have coaxed a loan modification from a financial giant.
