James Pethokoukis

Politics and policy from inside Washington

Financial reform imploding; Dems declare War on Goldman Sachs

March 11, 2010

So it looks like financial reform is going to be Dodd-Dodd rather than Dodd-Corker. The consumer finance regulator is like the new public option, a real deal killer. Also not helping is the wider, harsher version of the Volcker Rule that a group of Dems have proposed. I call it the Goldman Sachs Rule since it is targeted at the supposed conflicts of interest GS has. Throwing GS into the mix further politicizes the process and makes compromise tougher. A real poison pill. But that might be the idea all along. Push a weak, Democrat-only bill vulnerable to a host of anti-bank amendments on the floor of the Senate. Then force Republicans to vote against them with the midterm elections looming. With the economy weak and healthcare unpopular, financial populist may be the only card Dems have to play.

Comments

Owned slaves dont declare war on their masters. Just smoke and mirror. Speculation as method of capital creation is fast becoming the only game in the country , creating nothing real.

Posted by btw | Report as abusive
 

The impunity with which GS and their evil ilk continue their robbing and pillaging ways is truly astonishing. Hell is too good of a place for such blackguards and for their enablers in the US Congress and the Obama Administration.

Posted by V. Gates | Report as abusive
 

The detestable Democrat idiots are destroying our economy.

It takes “CAPITAL” you dummies in order to make our Economy work.

Capital and Labor are BOTH needed.

The idiots on the left destory CAPITAL so that there is nothing but a bunch of UNEMPLOYED idiots demanding paychecks from a printing press.

KEEP GOING GOLDMAN …. OUTSOURCE YOUR CAPITAL BEFORE IT GETS FLEECED IN ORDER TO SUSTAIN A DAY OR TWO OF OBAMA’S DEBT.

Posted by BlackBubba | Report as abusive
 

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