Legal Commentary

What To Believe?

By Big Tent Democrat

Steven D writes:

[An] AEI expert kept repeating the same talking point over and over -- the bill is bad because the Democrats want to set up a $50 billion dollar fund paid for by the big financial institutions. This is bad because it will enshrine "Too Big to Fail" in the law and in the minds of those who deal with those banks.

Thus the Republicans are opposed to financial reform on principle alone: they want to prevent the evil Democrats from ever bailing out Big Banks again. Republican[s] [. . .] want you to believe that their opposition to financial reform is to protect the public, rather than serve the needs of the financial industry [. . .]

Well put. But then there is this:

The Obama administration is telling Senate Democrats to ditch a measure in their financial reform bill that would create a $50 billion liquidation fund by assessing a fee on big financial institutions.

Seems the Obama Administration wants you to believe it too.

Speaking for me only

Full post as published by TalkLeft on April 19, 2010 (boomark / email).