Democrats Seize on Financial Oversight After Goldman Suit

The New York Times reports:

With the Senate scheduled to begin debate on a financial overhaul bill this week, the fraud suit against the Wall Street titan Goldman Sachs has emboldened Democrats to ratchet up pressure on Republicans who oppose the Obama administration’s proposal.

In a sign of the Democrats’ increasing confidence that they have the better of the argument in an election year defined by voter anger at big banks and bailouts, White House officials said Sunday that President Obama would take his campaign for a regulatory overhaul on the road in coming weeks.

That campaign will resemble his push that helped the health care bill past its final hurdles.

Mr. Obama in effect has made the measure’s fate a highly personal showdown with the Senate Republican leader, Mitch McConnell of Kentucky. Over the last 15 months, Mr. McConnell has sought to defeat each of the Democratic president’s domestic priorities in turn.

A companion story explores the message that the SEC's lawsuit against Goldman is sending Wall Street.