The financial sector does not make anything. Its goal is to take a little piece of every transaction as money flows through its hands, and in the coming days Wall Street will fight to continue this practice in its harshest form.
We have become a nation where our leaders can throw billions at places like Goldman Sachs, which does nothing to touch the lives of average Americans, but underfund the war against cancer, which touches almost every family.
The same people whose recklessness caused so many everyday working class families to lose their jobs are now stoking the anger caused by their own actions and directing it toward Democrats who have brought them to account.
Firms don't engage in price competition because they have a "gentlemen's agreement. If one of them starts undercutting the other they will drive down fees, and all of them see less money. The only way to end this is government action.
They used to say that the thing that is most likely to end war and conflict between the nations of the world would be an existential threat from a group of aliens from outer space. The same must be true for Democrats and progressives.
There's a new conventional wisdom forming in Washington, DC: the American dream of financial independence and security is gone. The ideal of "life, liberty, and the pursuit of happiness" is dead. Deal with it.
There have been very few midterms in modern history where the party that holds the White House has not lost seats in the first midterm after its President first took office. But the Democrats can still prevent this.