The Republicans lost 31 House seats and six Senate seats in 2006. This year does not look any better. Normally Republican seats. Although the results of the Presidential race are expected to overshadow the Congressional results, the bottom line is that most observers believe Republican losses will continue. What does this mean for business and banking interests? In general terms, deregulation and beneficial tax policies will be off of the table. As far as banking issues are concerned, the legislature will probably be dealing with dozens of bills aimed at the banking industry. They will most likely involve mortgage lending, foreclosure issues and lending to military folks.
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