Financial reform could be a very important issue for 2010: if Democrats pass something they can be proud of, they can tell voters they did something to reform Wall Street and prevent the abuses that caused the economic crisis from happening again. If they don't, or if it gets watered down, well...
Meanwhile, GOP-aligned pollster and focus-group specialist Frank Luntz has compiled a memo for how Republicans can kill it.
The blueprint assumes that most Americans blame individuals who spent irresponsibly for the economic crisis--but it tells Republicans to acknowledge the need for reform "that ensures this NEVER happens again." Part of the plan is to paint Democratic financial reforms as costly layers of bureaucracy.
Look for the Luntz talking points as Republicans take swipes at the Democrats' agenda. Here's the memo, via The Huffington Post's Sam Stein: