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Legal Commentary
: TalkLeftOpportunity Knocks: Dem Populism, Citizens United And Financial Reform
By Big Tent Democrat
With the Democrats in political trouble, I think the Supreme Court's decision today in the Citizen's United case provides Democrats with a big political opening. The NYTimes is reporting that President Obama is favoring Paul Volcker's idea to limit the size and activities of banks:
The president, for the first time, will throw his weight behind an approach long championed by Paul A. Volcker, former chairman of the Federal Reserve and an adviser to the Obama administration. The proposal will put limits on bank size and prohibit commercial banks from trading for their own accounts — known as proprietary trading.
Republicans will support the banks. They will also support the Citizens United decision, which provides corporations free rein to spend lavishly on politicians. These developments provide the President and Democrats the chance to show some populist chops. Opportunity knocks politically. And not a moment too soon for the Dems.
Speaking for me only
Full post as published by TalkLeft on January 21, 2010 (boomark / email).
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