Legal Commentary

The Strange Politics of FinReg

By Big Tent Democrat

Brutal partisan brawling over things like healthcare reform and climate change legislation was (and is) entirely unsurprising. [. . .] Financial reform is different. Politically, the obvious play for both parties is to outbid each other in efforts to rein in Wall Street, which practically everyone in America hates. But even though this would be an enormous vote getter, neither party is doing it. Democrats are offering up some mild reforms that would modify the playing a field a bit but not really fundamentally change anything. Republicans won't even go that far.

This is not as surprising as Kevin would have it. Money is all important in politics. And much of the money in politics comes from Wall Street. This is where the promise of Obama changing politics was so obviously false. In any event, the era of Democrats running against Wall Street are long over. A relic of the era of FDR:

Speaking for me only

Full post as published by TalkLeft on April 19, 2010 (boomark / email).