Keep your eyes on the regulators, not lawmakers. Rulemakers are poised to be the real agents of change over the next two years of the Obama administration.
It would have happened anyway, but the 2010 elections will give it an added push. We now expect Republicans to take control of the House and come close to parity in the Senate, increasing the chances of legislative deadlock.
Read more: http://www.kiplinger.com/businessresource/forecast/archive/obama-regulators-ready-for-busy-two-years.html#ixzz0z52b3LTJ
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Regulators only have power to regulate where Congress has delegated such authority. I was actually thinking about the rise of the regulatory state earlier today and getting a little annoyed at all the rules and regulations made by the executive branch until I connected those dots.