Henry Paulson has a piece...

...in the Times, "How to Watch the Banks," in which he says:

...it is critical that we learn from the financial crisis and put in place reforms to avert a repeat of 2008 or something even worse.

Congress must pass financial regulatory reform. Delays are creating uncertainty, undermining the ability of financial institutions to increase lending to the businesses of all sizes that want to invest and fuel our recovery. Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.

He finishes up by saying:

...we must not lose our sense of urgency, or the political courage to make the necessary reforms to ensure our long-term prosperity.

After watching the health care debate over the last year, is there really any hope that Congress can pass meaningful financial regulatory reform? Already, Wall Street is encouraging Harold Ford to challenge Kirsten Gillibrand for the Democratic nomination for the U. S. Senate from New York.

If you think the health care industry is powerful, wait until you see the financial industry!