|What’s needed to regain footing, I think, is a different kind of issue. An issue where it makes sense to draw lines, pick a fight, and if the votes aren’t there to pass a strong bill just say to the public “we were out there fighting for you and senators x, y, and z killed it.” Swinging for the fences like that, you might actually hit a home run, which would be great. And if not, you energize your allies and make your enemies look bad. At least if you pick the right issue.|
Financial regulation, it seems to me, would be that issue. In broad terms, the idea of regulating big banks is popular. And substantively speaking, a weak bill that’s full of loopholes would genuinely do very little good. We’re not in imminent danger of a bubble/crash replay but if we do something called “financial regulatory reform” we’re unlikely to do it again until there is a new panic. So there’s a strong case for coming out swinging against denouncing a too-weak bill as a sham and drawing some bright lines. If it doesn’t happen, I’ll do some Taibbi-style denunciations of Geithner & Rahm.
Wednesday, December 16, 2009
Yglesias hits a point I made the other day:
at 11:49 AM