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Reconciliation

Today I tried to explain -- and rename -- resolution authority, looked at how the $50 billion liquidation fund actually works, and wondered what exactly Wall Street does to deserve those fantastic profits.

Here's what I didn't get to:

1) Roger Lowenstein wonders whether Wall Street should be a casino.

2) Henry Waxman isn't giving up on the public option.

3) David Brooks has some nice things to say about the internet.

4) The Heritage Foundation should tell the Heritage Foundation to stop misrepresenting the Heritage Foundation's record.

Recipe of the day: Ramen stir fry with sesame, shitake, and ginger.

By Ezra Klein  |  April 20, 2010; 6:38 PM ET
 
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Comments

Ezra,

I think the Heritage Foundation's point is that comparing the Ryan health care plan, which has state-based Exchanges and no public option, to the current law, which also has state-based Exchanges and no public option. But to say the inclusion or absence of a community rating (which the Ryan plan lacks and the current law has) is just a minor difference is like saying there's no difference between meat lasagna and meatloaf, both which have ground beef and tomato sauce as major ingredients.

The Heritage Foundation has always opposed community ratings, and favors converting the employer tax exclusion to a standard deduction. The current law is nothing like this.

Posted by: moronjim | April 20, 2010 7:59 PM | Report abuse

you forgot this too.

http://www.startribune.com/business/91559459.html

Posted by: visionbrkr | April 20, 2010 8:35 PM | Report abuse

Today Valukas testified before the House Financial Services Committee.
Today Geithner testified before the House Financial Services Committee.
Today Bernake testified before the House Financial Services Committee.
Today Shapiro testified before the House Financial Services Committee.

Today William Blacktestified before the House Financial Services Committee, and explained not only why Fund was lying, but how Geithner and Bernake lied as well, under oath.

Today the House Financial Services Committee explored the frauds and felonies committed as Lehman imploded.

Too bad there aren't any bloggers interested in Financial Reform who cared to notice the elephant in Barney Frank's hearing room. Amazing how easy it is to get Centrist and Slightly Left of Center bloggers to lay off unindicted felon Tim Geithner.

Posted by: johninflorida | April 20, 2010 10:19 PM | Report abuse

William Black, in his opening statement today:

"We’ve also heard from Secretary Geithner and Chairman Bernanke — we couldn’t deal with these lenders because we had no authority over them. The Fed had unique authority since 1994 under HOEPA to regulate all mortgage lenders. It finally used it in 2008.

They could’ve stopped Aurora. They could’ve stopped the subprime unit of Lehman that was really a liar’s loan place as well as time went by."


heckuva job, Ezra

Posted by: johninflorida | April 20, 2010 11:06 PM | Report abuse

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