Thank God there are enough congresscritters with their heads screwed on to contemplate the long-term consequences of this legislation. If only Congress had done that during the reign of FDR ... instead of rolling over and giving him anything he wanted.
I'm not comparing Bush with FDR. But I am saying that Congress has an important role to play here. Frankly, I think Bawney Fwank is doing this for political reasons ... but I would hope that most opposition to this legislation arises from Congresscritters that are capable of understanding that legislation enacted for a good cause can have unintended negative consequences if not correctly crafted.
As has been commented on here and elsewhere, ThatWoman (D-NY) was distinctly unhappy during Bush's boffo broadcast.
Away from the anger engendered by the realization that our war against terror will push her White House bid back one or two election cycles, she must have realized that a huge expansion of federal control will take place WITHOUT HER BEING ABLE TO EXPLOIT IT PERSONALLY!