The Senate version also expands federal insurance on bank deposits, which had been sought by House members of both parties. Despite Mitzel's misgivings, the changes appeared to increase support; a handful of members said yesterday they would now support the legislation.
Whether there will be enough support to reverse Monday's 228-205 vote remained unclear. House Majority Leader Steny H. Hoyer said yesterday that he would not bring a bill back to the floor unless he were sure it had the votes to pass.
"We have no intention of failing again," the Southern Maryland Democrat said. "That would have, I think, a very negative impact on the markets and on confidence in the markets."
Hoyer said opposition among callers to his office had fallen from 6-to-1 before the House vote Monday to 3-to-1 after.
"We've still got great apprehension, but you can see in 72 hours we've halved the numbers," he said. "I think on this kind of issue, there's opposition because there's not full understanding. And there's not assurance that this is going to work.
Hoyer agreed that there are no guarantees, but he said that without congressional action, "the situation will get much worse."
Back in Cummings' office, as Wadsworth juggled calls, nine men and women wearing yellow T-shirts demanding "Stop loan sharks" crowded in. Ashidda Khalil, the Baltimore director of the Neighborhood Assistance Corp. of America, said the group was visiting all Maryland House members to register its opposition. "There's nothing in it for the homeowners," she said. "We're saying no to Wall Street. Look out for Main Street."
Cummings himself has expressed similar sentiments. He spoke of a conversation yesterday with a neighbor who is going into foreclosure.
"He said, 'I don't want a handout, I just want to restructure my loan,'" Cummings said. "He asked me what was in the package for him."
Cummings said he has been gathering assurances from House Speaker Nancy Pelosi, from House Financial Services Committee Chairman Barney Frank and from Obama, should he become president, that homeowners such as his neighbor would be able to seek relief.
"Since we don't know about the Wall Street piece and whether it's going to work," he said, "we have to make sure there's a Main Street piece that has some effect."
