Jonathan Bernstein, Columnist

Republican Steamrolling Should Terrify Wall Street

Interest groups usually have a role in the legislative process. Not this time.

Shut out.

Photographer: Andrew Burton/Getty Images
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No matter which way the Republican health care bill goes, there's one group that should be seriously freaking out right now: Wall Street. Not because of what the bill says, but because of how Republicans are going about passing it.

For organized interest groups, even those usually happy with Republicans -- whether it's banking or small business or manufacturing -- Republicans have raised red flag after red flag during the health care push. They wrote both the House and Senate versions of the bill in their leadership offices. In the House, the bill received only very brief pro forma committee votes; in the Senate, it didn't even get that. And they didn't hold a series of hearings leading up to the bill, either in this Congress or by Republican-majority chambers in previous Congresses.