A number of issues have gone awry for the Democrats in the last year. They thought that the stimulus plan would turn unemployment around, and the public would hail them as conquering heroes. Instead, much of the money went into useless pork for governors, and the Democrats were attacked. They thought that by passing health care reform, fulfilling a generations-long promise. Instead, polling shows that the support for the reform bill is even lower now than when it was being debated in Congress, and the decline shows no sign of abating. They thought that, by attacking the Arizona immigration bill, Republicans in that state and throughout the nation would be viewed as a bunch of antebellum bigots. Instead, it turns out that that law is supported by over 60% of Americans.

What’s a party to do? Well, they still have one target that everyone hates – Wall Street. They’ve passed financial regulation in both houses, and merely need to reconcile the bills, then put some strict regulation in place for the Wall Street institutions. How hard can this be? After all, they gave mortgages to people who couldn’t pay them back. Then, when they complained that they needed government protection or they would blow the nation’s financial house of cards down, we gave them nearly a trillion dollars to sate their endless greed. So, these companies destroyed the housing market in much of the nation. Then they destroyed what little fiscal integrity was left in our country, how hard could it be to target them?

But wait, I’ll bet those pesky Republicans will still try to derail this law. After all, they’re the people who are in the pockets of the banking institutions and don’t care about ‘small people’. Luckily for the nation, the Democrats have complete control over both the executive and legislative branches. Whew. No Democrats would try to stop financial regulation, would they?

It turns out that New York Democrats are ‘concerned’ that if the nation should try to enforce any kind of rules upon these financial thieves, that the institutions may very well move their business out of Manhattan. Gary Ackerman, who until now to my knowledge only cared about defending foreign aid, has decided that he can prove his bona fides to those who spend some of their wealth ensuring his re-election by showing that the needs of the nation or of his less well heeled constituents are worth nothing to him when in opposition to the few billionaires who have paid for his support. But that’s okay, although Ackerman weighs as much as any three other representatives, what’s one vote when the Democrats have nearly a 40 seat majority?

It turns out that Ackerman claims that all of the New York Democrats will unite to maintain our submission to Wall Street. Their plan is to turn the bill into an empty shell, merely a symbolic gesture so that those who vote for it can pretend to do something effective. That’s worked for generations; it could very well work again.