James Pethokoukis

Mitt Romney’s TARP problem

March 4, 2010

The 2008 financial crisis killed John McCain’s chances of becoming president. But will it kill Mitt Romney’s, too?

The Volcker Rule, again

March 4, 2010

President Obama is continuing to push the Volcker Rule to ban prop trading by banks. My sources give me no indication this has a realistic chance of happening. Certainly none of the key members — Dodd, Shelby, Corker, Warner — have warmed to it. So why is Obama pushing it, then? Hey, it is about the only part of his agenda with any popular support. Certainly not healthcare or cap-and-trade or the stimulus. Anti-Wall Street populism works, so more anti-Wall Street populism we will get. This is also why the GOP wants to pass a financial reform bill. It deprives Dems of a political weapon that plays on the stereotype of Republicans as the Party of the Rich.