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FinReg compromise helps Dems win the big argument

In the wake of the successful compromise on financial regulatory reform, it's worth stepping back and looking at the larger argument that's dominated our political life for much of the past year and a half.

The Democratic case has been that the deregulatory mania of the past needs to be reversed before it's too late. We must use the power of the Federal government to create real reforms that undo the damage created by past deregulatory excesses -- and to build safeguards ensuring that such damage never happens again.

The Republican case has been that Democrats are seizing on the fear generated by the crisis to implement government responses that are recklessly large and expensive, remaking our economy and society into something that's no longer recognizably American.

Each time Dems succeed -- as they appear on the verge of doing with FinReg -- it becomes easier for them to tell their story.

The financial regulatory reform compromise reached yesterday turned out to be tougher than most expected. But, by almost all accounts, it does not fundamentally transform or Wall Street or our economy into something unrecognizable.

Presuming that Obama signs financial reform into law next week, he will have not only passed a stimulus package that many credit with pulling the economy back from the brink; he will have also begun reshaping two major chunks of our economy: Health care and Wall Street. As Taegan Goddard put it: "Not since FDR has a president done so much to transform the country."

And the sky will continue to remain in place.

Dems very well may lose the argument in the short term. The Republican case that Dems are overreaching and overspending appears to be resonating.

The spill continues to gush, undermining faith in the competence of Obama and the Federal government. Dems may sustain large losses in the midterms, and perhaps their travails will continue beyond then.

But the other possibility is that the more accomplishments Dems rack up -- energy reform is next, though its prospects are in doubt -- the easier it will be for them to tell the larger story they're trying to tell. The picture of Dems succeeding at what they've set out to do will make it easier for Dems to argue: We're getting things done, and none of the worst case scenarios foreseen by critics are coming to pass.

Success could build upon success, reinforcing a picture of Dem effectiveness that drowns out the Beltway white noise and begins to persuade the public that Dems are on the right side of the larger argument. That's a very tall order, and it may take awhile. But that's how this could end up playing out.

By Greg Sargent  |  June 25, 2010; 12:34 PM ET
Categories:  2010 elections , Climate change , Financial reform  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Sarah Palin tells followers to read article comparing BP escrow fund to Nazism
Next: On David Weigel's resignation

Comments

"The Republican case has been that Democrats are seizing on the fear generated by the crisis to implement government responses that are recklessly large and expensive."

I think much of the criticism has been that the government responses have not been and will not be effective:

"This legislation is a failure on both counts," Sen. Judd Gregg (R-N.H.) said in a statement that denounced the compromise as failing to address "shoddy underwriting practices" or problems with Fannie Mae and Freddie Mac. "It will not encourage much-needed stability and confidence in our financial markets. It will not significantly reduce systemic risk in our financial sector."

Posted by: sbj3 | June 25, 2010 12:41 PM | Report abuse

Good post, Greg. Agreed on the momentum here, made even more remarkable by an intransigent Congress (esp the Senate).

It will be interesting to see the next push before elections get into full swing. I hope the Feds are going to do something to help state budgets. Too many layoffs of teachers and other necessary services.

Posted by: BGinCHI | June 25, 2010 12:41 PM | Report abuse

BTW Greg - hope you are not participating on JournoList.

Posted by: sbj3 | June 25, 2010 12:44 PM | Report abuse

sbj -- no, I'm not. :)

and I agree that that's part of the GOP argument but I think "reckless" gets at that a bit...

Posted by: Greg Sargent | June 25, 2010 12:47 PM | Report abuse

Dominoes man, Dominoes.

But they are gonna lose the momentum if a jobs bill isnt passed. I say pay for it with cuts the GOP doesnt like and then hammer their arses in the media. The only leg they have to stand on right now is that the current jobs bills add to the deficit. Cut some sacred cows and then take the case to the people.

Posted by: sgwhiteinfla | June 25, 2010 12:49 PM | Report abuse

@Greg

"...energy reform is next, though its prospects are in doubt..."

I seem to remember hearing something along those lines about both Health Care Reform and Wall Street Reform.

Maybe it's just me...I dunno. ;)

Posted by: TheBBQChickenMadness | June 25, 2010 12:55 PM | Report abuse


A Modest Proposal:

Why not make use of General McChrystal, for what he is very good at;

Hunting down small groups of bad guys.

Give him the assignment of forming, and leading a small group of elite forces, that go into places like Somali and Yemen to track down, and nail some of the known bad guys, that we can not get to, using conventional forces.

The group might even be tasked to sneak into the badlands of Pakistan, to try and locate guys like Bin Laden.

That would be giving the General something useful to do, and would also keep him away from what he is terrible at; diplomacy and public relations.

Posted by: Liam-still | June 25, 2010 12:57 PM | Report abuse

Liam,

You still haven't responded to all our appeals that you push back your self-imposed deadline to 72, or better, to 75.

:)

Posted by: Greg Sargent | June 25, 2010 12:58 PM | Report abuse

Jeeze Greg, I hope Scott Brown isn't reading your best case scenario for Dems hypothesis. He'll vote against fin/reg for sure if he is. And Judd Gregg saying the markets won't like it sort of flies in the face of what the markets are actually doing. Seems to me the markets prefer knowing the rules rather than the ambiguity of mixed signals from the GOP.

Posted by: lmsinca | June 25, 2010 12:58 PM | Report abuse

sg: "Cut some sacred cows and then take the case to the people."

Take it out of the bloated, wasteful defense budget. Ask Bob Gates to find something to give up. He just might do it.

Posted by: suekzoo1 | June 25, 2010 12:59 PM | Report abuse

Greg:

Liam,

You still haven't responded to all our appeals that you push back your self-imposed deadline to 72, or better, to 75.

:)

--------------

Greg, why no post on congress having raised the retirement age to 75 last week? ;o)

Posted by: suekzoo1 | June 25, 2010 1:04 PM | Report abuse

"Cut some sacred cows and then take the case to the people."

I agree 10000%.

Offset jobless benefits by cutting CORPORATE AG FARM SUBSIDIES. Tell Ben Nelson to find another way to get re-elected.

Posted by: Ethan2010 | June 25, 2010 1:05 PM | Report abuse

Greg,

Yes I did respond to you. Go back to that thread, and you see it.

Posted by: Liam-still | June 25, 2010 1:06 PM | Report abuse

@lms: "Seems to me the markets prefer knowing the rules rather than..."

Then you must love Dodd's quote:

"No one will know until this is actually in place how it works."

Shades of HCR.

Posted by: sbj3 | June 25, 2010 1:10 PM | Report abuse

Gee, SBJ taking a quotation way out of context for his political purposes? Who'da thunk?!

Posted by: Ethan2010 | June 25, 2010 1:14 PM | Report abuse

@Liam

"Give him the assignment of forming, and leading a small group of elite forces, that go into places like Somali and Yemen to track down, and nail some of the known bad guys, that we can not get to, using conventional forces."

I was more thinking in places like Wall Street and the RNC.

Ba-dum-bum!

Posted by: TheBBQChickenMadness | June 25, 2010 1:21 PM | Report abuse

BOBBY JINDAL'S KATRINA

...last night CBS News tore Jindal's argument to shreds, pointing out that while President Obama has authorized up to 6,000 National Guard troops to fight the spill, Jindal has only activated 1,053 of them -- leaving more than 80% sitting idle, doing nothing to protect the state.

http://www.dailykos.com/storyonly/2010/6/25/879265/-CBS:-Jindal-holds-up-deployment-of-National-Guard-to-fight-spill

Read it all, plus CBS video at the link.

Posted by: Ethan2010 | June 25, 2010 1:24 PM | Report abuse

Time for Our Species to restrain itself. We do not need to keep having so many children. We are devouring and destroying the Planet.

We also need to stop having so many carnivourous pets. Dogs and cats, live on the flesh of other species, so the more of them we breed, the more forests get destroyed, in order to create grasslands for to raise animals, to feed the vast surplus of dogs and cats.

I hope this will bring Japan to it's senses, and scare them away from slaughtering whales.

"Report: Toxins found in whales bode ill for humans"

http://news.yahoo.com/s/ap/20100624/ap_on_sc/whaling


"Sperm whales feeding even in the most remote reaches of Earth's oceans have built up stunningly high levels of toxic and heavy metals, according to American scientists who say the findings spell danger not only for marine life but for the millions of humans who depend on seafood.

A report released Thursday noted high levels of cadmium, aluminum, chromium, lead, silver, mercury and titanium in tissue samples taken by dart gun from nearly 1,000 whales over five years. From polar areas to equatorial waters, the whales ingested pollutants that may have been produced by humans thousands of miles away, the researchers said.

"These contaminants, I think, are threatening the human food supply. They certainly are threatening the whales and the other animals that live in the ocean," said biologist Roger Payne, founder and president of Ocean Alliance, the research and conservation group that produced the report.

The researchers found mercury as high as 16 parts per million in the whales. Fish high in mercury such as shark and swordfish — the types health experts warn children and pregnant women to avoid — typically have levels of about 1 part per million.

The whales studied averaged 2.4 parts of mercury per million, but the report's authors said their internal organs probably had much higher levels than the skin samples contained.

"The entire ocean life is just loaded with a series of contaminants, most of which have been released by human beings," Payne said in an interview on the sidelines of the International Whaling Commission's annual meeting"

Posted by: Liam-still | June 25, 2010 1:28 PM | Report abuse

o/t but since greg responded to the question about journolist:

i gave weigel some flak for his libertarianism and stopped commenting there because the comment section was so thoroughly populated with tbagging troglodytes who would write endlessly about obama not being a citizen.

but still, i don't think he should have offered his resignation and i certainly don't beleive wapo should have accepted it.

btw, why are the comment sections on his former blog all whited out now?

Posted by: blahgblogwordpresscom | June 25, 2010 1:34 PM | Report abuse

I was more thinking in places like Wall Street and the RNC.

Ba-dum-bum!

Posted by: TheBBQChickenMadness | June 25, 2010 1:21 PM

.................

I would assign Elizabeth Warren, and Paul Krugman, to that task. I would first order them to go on an undercover mission, to oust Summers and Geithner.

Posted by: Liam-still | June 25, 2010 1:36 PM | Report abuse

Ethan,

Thanks for the dKos/CBS Jindahl take down. Jindahl is planning for the cameras trying to rehab his image since the night he gave the response to Obama's speech.

Another point. Rachel Maddow was reporting last week that the berms he is building will be a failure. They take to long to build, may do more damage to the wetlands, and will most likely wash away in the first heavy storm. At a cost of $360 million dollars that we got BP to escrow the funds for, I'm thinking that is the actual "shake down" story. Bobby Jindahl had a tantrum and got BP to totally waste $360 million so he could look like he's doing something.

Posted by: suekzoo1 | June 25, 2010 1:41 PM | Report abuse

Ethan, more on the berms:

Bobby Jindal's Berm Warfare
http://motherjones.com/blue-marble/2010/06/jindal-berm-war-louisiana
___________________________________
Under Pressure to Block Oil,
A Rush To Dubious Projects

In response to the widening disaster in the Gulf of Mexico, government officials have approved a plan to intercept the oil by building a 45-mile sand berm. But scientists fear the project is a costly boondoggle that will inflict further environmental damage and do little to keep oil off the coast.
by rob young

Rob Young is professor of coastal ecology at Western Carolina University and director of the Program for the Study of Developed Shorelines.

http://www.e360.yale.edu/content/feature.msp?id=2282

Posted by: suekzoo1 | June 25, 2010 1:52 PM | Report abuse

@Liam

Way to ruin a good joke! :-P

But seriously...my dream team has been, and will continue to be:

Trade Volker for Krugman
Trade Geithner for Reich
Trade Summers for Stiglitz
Warren heads Consumer Protection Agency

I'd also find a place for Geithner to at least keep him around. I think he's a bright guy who's gotten a bit of a bad rap. He's no saint, but I don't feel he's the demon a lot on the left make him out to be.

If you put those 5 into a room to advise the President on the economy...I think we would see some really amazing economic policy as a result.

Posted by: TheBBQChickenMadness | June 25, 2010 1:58 PM | Report abuse

Of Course this is in the Dems best interests. They know they will never be re-elected by their job performance so they have to try to find a way to steal an election so the can continue with the destruction of our country. Just think, in 4 more years we will be totally broke and flying the Mexican flag and bribing cops not to turn us over to the drug cartels. After 8 terrible years under Bush to have a Dem administration and Congress do SO MUCH worse is sickning. Bush and the Repugs look like George Washington clones compared to Obama and the traitors infesting Congress right now

Posted by: Hopinghere2 | June 25, 2010 2:02 PM | Report abuse

So I take it Hope2 you're against financial regulation.

Posted by: lmsinca | June 25, 2010 2:18 PM | Report abuse

I cannot for the life of me understand why Dave had to resign. It's not like Wapo didn't know what it was getting. I'm sure we'd all appreciate, say, Michelle Malkin's daily observation of the left.

http://www.mediabistro.com/fishbowlDC/newspapers/breaking_weigel_resigns__165850.asp

Must have been one of kanjorski's "defectives" on Journolist that ratted him out. Stupid wingnuts!

Posted by: TrollMcWingnut | June 25, 2010 2:24 PM | Report abuse

I cannot for the life of me understand why Dave had to resign. It's not like Wapo didn't know what it was getting. I'm sure we'd all appreciate, say, Michelle Malkin's daily observation of the left.

http://www.mediabistro.com/fishbowlDC/newspapers/breaking_weigel_resigns__165850.asp

Must have been one of kanjorski's "defectives" on Journolist that ratted him out. Stupid wingnuts!

Posted by: TrollMcWingnut | June 25, 2010 2:25 PM | Report abuse

Thanks Sue, I'll check out that link re: the berms. I know it's a stupid idea, and I've read a little about it, but I'll definitely check out that link.

I've been a bit astonished, actually, that the Republican Govs have not acted on activating the National Guard troops.

Must be because they don't want to show how desperately their states need federal funding in order to survive, given decades of GOP mismanagement and upside-down priorities.

Posted by: Ethan2010 | June 25, 2010 2:26 PM | Report abuse

Sorry about the twofer. Stupid Rethuglicans ratf**king trolls!

Posted by: TrollMcWingnut | June 25, 2010 2:28 PM | Report abuse

Back to the topic at hand, while the finreg legislation is not perfect, this NYT article is a great primer for the benefits of the legislation to CONSUMERS:

From Card Fees to Mortgages, a New Day for Consumers

http://www.nytimes.com/2010/06/26/your-money/26money.html

Posted by: Ethan2010 | June 25, 2010 2:44 PM | Report abuse

I am out of here until Monday. Have a good weekend all. Go USA Soccer team. They should not take Ghana lightly. They could be a dangerous opponent. My Vuvuzela got laryngitis from celebrating the win over Algeria. I hope it will get it's voice back for the big game tomorrow.

A lovely little poem by:

W. B. Yeats.

THE SONG OF WANDERING AENGUS

I WENT out to the hazel wood,
Because a fire was in my head,
And cut and peeled a hazel wand,
And hooked a berry to a thread;
And when white moths were on the wing,
And moth-like stars were flickering out,
I dropped the berry in a stream
And caught a little silver trout.

When I had laid it on the floor
I went to blow the fire aflame,
But something rustled on the floor,
And some one called me by my name:
It had become a glimmering girl
With apple blossom in her hair
Who called me by my name and ran
And faded through the brightening air.

Though I am old with wandering
Through hollow lads and hilly lands.
I will find out where she has gone,
And kiss her lips and take her hands;
And walk among long dappled grass,
And pluck till time and times are done
The silver apples of the moon,
The golden apples of the sun.

Posted by: Liam-still | June 25, 2010 2:49 PM | Report abuse

@ : After 8 terrible years under Bush to have a Dem administration and Congress do SO MUCH worse is sickning. Bush and the Repugs look like George Washington clones compared to Obama and the traitors infesting Congress right now.

Gee its too bad that all the republicans (like you) can suggest are returning to the failed deficit and debt exploding policies (like unpaid for tax cuts for rich people and mega corporations and starting wars of choice without paying for them) that got us into this ditch in the first place. Don't you remember Bush's economic collapse of 2007-8?

Posted by: srw3 | June 25, 2010 2:53 PM | Report abuse

I still don't see this passing the senate. Is there some reason it doesn't need 60 votes or do we know for sure that some republicans as well as the Nelson, Lieberman, and the other ah0les in the dem caucus will vote for it?

Posted by: SDJeff | June 25, 2010 2:59 PM | Report abuse

The sentiment that Democratic efforts have failed to address the country's issues effectively are false. They are false because the utterers of these sentiments want to create the impression that good, positive ideas cannot come from the left of the political spectrum. The are false because the Republican party, which ought to be ashamed of the havoc they wrought in Congress and in the White house since 1980 nearly doomed our economy and caused tsunami-like waves of decline around most of the world, will not accept its complicity in the deregulation of business and underfunding of government. They are deliberately false because the Republican party has made it its goal to weaken the President and Democrats in every way possible in hopes of returning to control of Congress. And then what? What for this country that suffers because we are still engaged in two wars? What for this country that needs to find a way to restore a share of production of goods so that Americans can once again have solid jobs and prosperity (not based alone on "creative" banking and finance)?

Critical thinking is not this country's educational strong-point. People know and understand little history of our own country and less of the world. Situations like the present one have occurred before; we do not need the "cheerleading" of partisans to help divide the country at times of crisis. It needs to be remembered that the recessionary conditions are by no means vanquished. While some indicators show that we seem not to be headed deeper into the abyss, there are a number of challenges before us. We will want a much stronger economy to trim our debt and meet the future we're preparing for coming generations. Unless we just don't care what happens past today.

Posted by: Jazzman7 | June 25, 2010 3:06 PM | Report abuse

@SDJeff:

"Is there some reason it doesn't need 60 votes or do we know for sure that some republicans as well as the Nelson, Lieberman, and the other ah0les in the dem caucus will vote for it?"

The fact that they are saying it's "finished" is the evidence that they have the votes. If they didn't, they'd still be negotiating to get them. Granted, "anything could happen", but it seems pretty solid at the moment.

I believe they think that Brown will flip, because they gave him some concessions. If he does, I think the Maine Twins (Snowe/Collins) may consider voting for it as well. We'll have to wait and see.

Posted by: TheBBQChickenMadness | June 25, 2010 3:26 PM | Report abuse

This is off topic but there's a really good interview with Hastings over at HuffPo discussing both his article for RS and the reaction. Interesting piece.

Q) What story are you working on now - the Kandahar offensive?

A) That's the story I've been working on.

Q) How is that offensive going?

A) I think it's in trouble, in serious trouble. The fighting is really, really heavy and they've postponed the heaviest fighting till the fall. But it's going to be nasty. This June has been the deadliest month of the war. You have this problem where we told our Afghan partners, if you don't want it , then we don't have to do it, and they said no and we said, well, we're doing it anyway. Now we're in situation where we are eventually going to do it and we don't have the popular support of the locals."

http://www.huffingtonpost.com/2010/06/25/michael-hastings-rolling_n_625261.html

Posted by: lmsinca | June 25, 2010 3:29 PM | Report abuse

Apparently Weigel's comments have been disabled out of embarrassment. Serves him right getting caught. Now he's liberated to go write for some leftist hate website so maybe it's a blessing.

Posted by: Truthteller12 | June 25, 2010 3:32 PM | Report abuse

Just tuned in and saw the notice of Weigel resigning. The emails don't seem to me such that this response is necessary but perhaps he felt his area of reporting could be compromised. Pity. The WP loses a good reporter/blogger but I imagine (certainly hope) he'll quickly find work elsewhere.

Posted by: bernielatham | June 25, 2010 3:40 PM | Report abuse

sbj said: "I think much of the criticism has been that the government responses have not been and will not be effective"

Well, it's that they cannot be because of the source. It's axiomatic. Even where a policy was previously advanced (or originated) by a Republican, if it is adopted or duplicated and then advanced by this administration, it can then no longer be effective, by axiom.

Posted by: bernielatham | June 25, 2010 3:47 PM | Report abuse

Dare I even peek in at the previous Palin commentary?

Posted by: bernielatham | June 25, 2010 3:49 PM | Report abuse

Republican Arrested For Sex Crimes

...former VA GOP House of Delegates nominee Troy Bird has been arrested:

Troy Bird was indicted by a grand jury in Roanoke Circuit Court on Monday on a total of seven charges that include sodomy, taking indecent liberties with a minor and aggravated sexual battery, according to online court records.

I wonder if he knows a good attorney?

http://voices.washingtonpost.com/politics/blog-network/2010/06/republican_arrested_for_sex_cr.html

"sodomy, taking indecent liberties with a minor and aggravated sexual battery"

OUCH! Yet another "Family Values" hero from the Republican Party. Hypocrites all.

Posted by: Ethan2010 | June 25, 2010 4:07 PM | Report abuse

My take on Weigel's resignation:

http://voices.washingtonpost.com/plum-line/2010/06/on_david_weigels_resignation_1.html

Posted by: Greg Sargent | June 25, 2010 4:08 PM | Report abuse

"OUCH! Yet another "Family Values" hero from the Republican Party. Hypocrites all."

Aren't "republican" and "hypocrite" pretty much synonymous at this point?

Posted by: SDJeff | June 25, 2010 4:11 PM | Report abuse

"Well, it's that they cannot be because of the source. It's axiomatic. Even where a policy was previously advanced (or originated) by a Republican, if it is adopted or duplicated and then advanced by this administration, it can then no longer be effective, by axiom."

Posted by: bernielatham | June 25, 2010 3:47 PM

We we also finally have a Congress that won't interfere in the proper regulation of the financial market.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

It's all smooth sailing now!


Posted by: TrollMcWingnut | June 25, 2010 4:14 PM | Report abuse

"The fact that they are saying it's "finished" is the evidence that they have the votes. "

I hope you're right BBQ, but republicans unanimously voted against it in conference, so I'm skeptical.

Posted by: SDJeff | June 25, 2010 4:26 PM | Report abuse

This bill is a gift to the banking industry, just as "health care reform" was a big gift to the insurance industry.

What other huge criminal industries does Obama plan to reward for being so corrupt?

Posted by: solsticebelle | June 25, 2010 4:26 PM | Report abuse

FEAR, What madness does thy name invoke.

Fear dominates every minute of every waking hour of every American, you just don't know it!

The republican argument that Pres. Obama is using fear to pass his agenda seems a little bit lame in the light of what NEW republican laws passed under their regime concerning eaves dropping, spying on American citizens, kidnapping (rendition),
starting a war NOT declared by congress,
Practically a TOTAL deregulation of big business and money markets and a massive tax break to boot (if we don't do these things they'll go broke argument), indefinite detainments, the approval of torture and the use of such.

Republicans know fear and they know how to use it well to sell their agenda, as they are doing even now, it's just that beatings taken have also been lessons learned, dems are catching up on the use of the manipulation of fear, people listen when they're scared!

It's the same type of fear that gets you up in the morning and off to work, it forces you to wear clothes and all the various vane duties associated with cleanliness, it makes you stop at a stop sign, FEAR it's your friend, embrace it!

Almost every injury or accident happens when there is a temporary pause in its use. I.E. see housing and banking, see B.P., see auto accident, see.....

),

Posted by: victorlove1 | June 25, 2010 6:49 PM | Report abuse

Bank Regulation: If dems get credit for fixing it, then they should get credit for breaking it, or at least much of it. I was stunned to learn how much banks had been deregulated, and as a conservative I welcome a fix of the system. But is it really a fix? Or will it just be a mechanism for funneling money into Dem constituencies (read Freddie and Fannie).

As for the stimulus, it will some day have to be paid for. Look for a lot of really stupid proposals by Dems on what we will HAVE to do now to fix it. Consider that growth will be the only answer and amnesty followed by a huge invasion of non-whites will of course save us all from ourselves.

Environment anyone? Increasing the number of Democratic voters takes precedence over the environment.

Energy policy? They will do everything but the easiest, common-sense approach. That approach is of course to add $2-$3 tax to each gallon of gas.

Its gonna be a big mess. But who better to clean up the mess than the ones who created it?

Posted by: hipshot | June 25, 2010 8:45 PM | Report abuse

The Dimwitcrats' dastardly campaign to destroy America — to lay waste to the greatest nation in history and to deliver a ruined population into crushing socialist slavery — SHALL FAIL UTTERLY!

Posted by: thebump | June 25, 2010 10:07 PM | Report abuse

First of all, the stimulus did not "pull the economy back from the brink." It did help - marginally - but...let's can the hyperbole. We aren't in a depression now, and we wouldn't have entered one if the stimulus didn't pass. Moreover, polls show that people don't believe it was effective, so I'm not very clear on how the stimulus is a net positive for the Dems. If anything, it looks rather unseemly for the Dems to pat themselves on the back for passing the stimulus in the context of a 10% unemployment rate.

Re FinReg - polls show the public is supportive, but that they also don't believe it'll be effective. It will surely give the Dems some sort of boost - but, since most people don't believe it'll be effective, its political impact will be limited.

Posted by: poorich13 | June 26, 2010 10:55 PM | Report abuse

First of all, NOBODY out here CARES about this bill. Only you Idiots, sitting in your little apartments, wearing your YES WE CAN shirts, and looking as Androgynous as you possibly can, give a Rats' #ss about this. It's all INSIDE POKER. The only way it affects US, is the TAX (what a surprise) that it puts on the Banks, who will PROMPTLY schluff it off on to US. The CROOKED SON of a DISGRACED CROOKED FATHER - Chris Dodd - will go on to a Cushy Six Figure 'Consulting' Job with the very companies that you IDIOTS think are getting 'punished'. And his WH*RE of a WIFE, will continue to sit on the Boards of these very same companies, and pull in HER Six Figures.
Get it? It's SMOKE and MIRRORS. YOU think it's great because you're STUPID. Sitting in your Mothers' bedroom, and putting on your sisters underwear, doesn't make you smart. You need her LIPSTICK, too.
There's NO JOBS, and there's not gonna be any. This other stuff? It's Bread and Circuses. And you're still STUPID.

Posted by: GoomyGommy | June 28, 2010 8:31 AM | Report abuse

"The picture of Dems succeeding at what they've set out to do will make it easier for Dems to argue: We're getting things done, and none of the worst case scenarios foreseen by critics are coming to pass."

You mean like the worst case scenerios about health care: adding to the deficit, losing the coverage you have now, rationing, less docs, etc? Oh wait, now we find out all those are, in fact, coming to pass. We'll see how that plays in Nov...

Posted by: Virgil1 | June 28, 2010 9:30 AM | Report abuse

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