Tag: FinReg

Goldilocks Triangulation

Digby utterly nails it; do yourself a favor and read the whole thing:

[Obama’s political advisers] should have realized that a health care bill that nobody in their right minds would have designed from scratch, the worst aspects of which liberals will be asked to defend for years to come, would be met with dampened enthusiasm by those who watched the process devolve from a sense of progressive purpose to an exhausting farce. They are expected to be able to predict that financial reform without accountability for what’s gone before, combined with the administration’s unwillingness to confront the civil liberties abuse of the last administration – indeed expanding on them in some cases – would show a lack of fundamental concern for justice among those who care about such things.

Goldilocks Triangulation

I know at least 7 [GOP] senators, who I will not name, but were made to make a commitment under threat of losing their chairmanships, if they did not support the leadership on every procedural vote, every single thing we did, from the important to the not so important, required (for the first time in modern American history) […] required 60 votes. All the sudden a majority became 60 instead of 50

Joe Biden, reflecting on GOP obstructionism.
I’d argue in a similar vein as Yglesias: it’s not remarkable at all that the GOP extracted this kind of stern loyalty. What’s remarkable is that The Democrat did not. Not even on procedural votes can Democratic Leadership count on the caucus voting in lockstep (and then being free to vote their conscience on final passage).
Likewise, such fealty is also not required on keystone issues such as healthcare insurance reform, or more recently on FinReg. Say what you will about whether or not Feingold is in the right by withholding his vote for FinReg (in favor of some theoretically better but functionally nonexistent “other bill”), the fact of the matter is that in so doing, he’s empowered Code Brown to set the agenda for FinReg, and The Democrat has dutifully sent the bill to the American Taxpayer instead of the largest banking interests in the world. And now will get to take the blame for it. Because, rest assured, the GOP will run on that. And won’t be troubled in the least by the facts that they were directly responsible for that change and many, many others just like it. The facts do not matter.

Won’t Somebody Think of the Fatcats?

FinReg Conference Committee headed back to the table:

In an extraordinary move aimed at winning over reluctant Republican senators, the top Democratic negotiators on the Wall Street reform bill will reopen the conference committee Tuesday to swap out a controversial $19 billion tax on big banks, according to House and Senate aides.

Yes, you read that right. Fresh off nearly destroying the global economy, fresh off being bailed out to the tune of trillions of dollars, fresh off the entire affair being compared to “an ant” by Boehner, the GOP is again moving the goalposts (and being allowed to do so by Democrat asshat enablers, which on this occasion includes Russ Feingold (D-Wis.); thanks a lot, and I hope you enjoy your years in the minority).
The banksters just can’t be held accountable for any amount money, no matter how small, no matter how justified, no matter how directly related to their own future operations. Not even a relatively paltry $19 billion that’s intended to bail their sorry asses out in the not-too-distant future. Nope. That’s also coming out of your ass, American Taxpayer. Hope you enjoy it. The GOP got it just for you. Because you’re special. See you in 2010.

On the one hand, Republicans have had a major role in shaping [the healthcare reform, financial regulation, and climate change bills]. On the other hand, they haven’t had to vote for these bills, and so they could cleanly campaign against legislation that a member of their party helped write. And as an added bonus, Democrats are stuck trying to defend a bill that their base doesn’t like very much and that’s thick with compromises that annoy political elites.

Ezra Klein on the Lone Republican strategy, which has put Snowe, Corker, and now Lindsey “Huckleberry” Graham alone in the room full of Democrats, at least until it mattered. Bill successfully shaped to GOP specifications, compromise time is over, Democrats pass unpopular, weakened bill (seemingly forgetting to dump the compromise portions every single time) and the GOP gets to campaign against it all, with emphasis on “back room deals” and “sweetheart provisions,” many or even most of which were made at their behest.
And, worst of all, The Democrat is shocked every single time.

Two Choices

Mitch McConnell reports that he’s “heartened to hear that bipartisan talks have resumed in earnest” and, in response, Harry Reid says “I’m happy to hear my counterpart, my friend, Senator McConnell talk about the need for more negotiations. We don’t stand in the way of that.”

Now they’ll just repair to the negotiating table and make some laws! Finally, everyone will stop with the brazen lies about the financial reforms package! Truly it is a new day!

Or not.

Honestly, how many fucking times does this have to happen? The GOP as currently constituted is against it. “It” being anything the Democrat wants to do. Period. They love the idea of “negotiations.” It extends the sausage-making indefinitely. The American people hate the sausage-making. Anything that avoids bringing the bill to the floor in a decisive manner is a win for the GOP. This is why they keep on with the “back to the drawing board” jibber jabber. They want everything back at the drawing board. Forever.

Make them vote against the bill. No compromises, no negotiations, no changes, no fixes. Make them vote against the bill. To do that, you’ll also need to make them filibuster the bill. To do that, you’ll need to make them talk 24/7 about filibustering the bill. That is how you hurt the GOP. Make them stand up there and talk about the need to save Wall Street from scary scary regulations when all they ever did to us was drive the global fucking economy into the ditch and are aiming to do so again, posthaste. Make them talk, if necessary from now until the 2010 midterms. That, or they file a vote against cloture and we try again. More talking about how great Wall Street art. Two choices, no waiting.