There has been a flurry of political activity over the past few days in Washington D.C. The big story is a Finance Regulation bill being discussed mainly in the Senate at this point. What makes the whole situation so interesting is that this appears to be a more bi-partisan effort than any other measure that has been such a big issue. The regulation is really gaining traction related to the recent Goldman-Sachs fraud allegations being made by the Securities & Exchange Commission (SEC).
Why the sudden move for action? I think the obvious answer is that “We the People” have demanded regulatory reform from our Senators and Representatives. However, I wonder if that is truly the reason.
The current approval rating of our Legislative Branch is hovering around 22%. One could take the position that our legislators are not only seeing the writing on the wall, but that they actually might be reading the words.
This fall promises to bring about some major changes in personnel in Washington. My hope is that the reason this legislation is being considered is the right one; that we could finally begin repairing the problems with our economic system and begin treading the road to recovery.