The Republican Recession
December 13, 2009
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This Republican recession based on [their] Wild West mentality cost this country millions of jobs and these guys should be ashamed of themselves,” fumed Rep. Ed Perlmutter (D-Colo.), taking a page from the Anzalone polling memo, which urged lawmakers to stress how financial reform will prevent future job losses.
The last election cycle was all about Bush. The Bush Recession. The Bush Tax Cuts. The Bush Wars. Now, for the first time (that I’ve seen) the Dems are turning that hard and dropping it in the laps of all Republicans, now, aside from the question of fairness (despite widespread confusion, Dems pushed the deregulation of banks too), I wonder how well this will work. Especially now with the Dems unequivocally going against the big Banks.
On just a gut-level, I’m on the Dem’s side here. The banks F’d America over hardcore, and on that gut-level, that emotional level, I’d like nothing more than to see mobs with pitchforks and torches marching up to these banks. So without even knowing anything about this, knowing that “Dems passed a bill with lots of reform the banks don’t like” makes me happy. (As a note, I need to go read more on it, figure out what exactly this bill is doing).
So here’s the thing, will this fly well with the middle-of-the-road people? Dems going hard against the banks and putting new regulations and restrictions on them and the Republicans fighting them tooth and nail? I can’t think of a more unsavory group to defend or a more tricky political position to fight this on. Just mention ‘bank bonuses’ is a family restaurant or the local bar and you’ll get someone to cuss. Then say the Dem’s are doing something about it and the Republicans are trying to protect the bankers. Looks bad, don’t it?
So here’s my prediction:
The Bill is mostly good, with a few somewhat serious weaknesses. The Republicans, refusing to compromise or negotiate on anything, refused to offer any votes or support of any kind, so no conservative ideas got included making for a bill that is half as evil as the Republicans will claim, but only half as effective as it could have been. 😦