Thursday, January 28, 2010
Bravo Cantwell!
The vote to confirm Bugsy Bernanke was worth watching because it was uncorrelated with party line, and uncorrelated with geography.
You can tell with perfect certainty who has taken bribes from Wall Street and who hasn't.
The most interesting of the unbribed members is Maria Cantwell of Wash, who is typically a quiet and loyal Dem vote. She also knows Wall Street from the inside.
She's pleading for a hard prohibition of derivatives, not a soft and easy-to-loophole regulation. "Fact is, you can make more money in derivatives than by doing IPOs or real investment." Therefore the only way to force investors into honesty is by absolutely outlawing the dishonest paths.
Won't happen, of course, because 70 members of the Upper Nuthouse have confessed to their own criminality this afternoon.
Still, it's wonderful to see a previously undramatic politician like Cantwell rebelling against the forces of darkness. ¶ 1:40 PM
You can tell with perfect certainty who has taken bribes from Wall Street and who hasn't.
The most interesting of the unbribed members is Maria Cantwell of Wash, who is typically a quiet and loyal Dem vote. She also knows Wall Street from the inside.
She's pleading for a hard prohibition of derivatives, not a soft and easy-to-loophole regulation. "Fact is, you can make more money in derivatives than by doing IPOs or real investment." Therefore the only way to force investors into honesty is by absolutely outlawing the dishonest paths.
Won't happen, of course, because 70 members of the Upper Nuthouse have confessed to their own criminality this afternoon.
Still, it's wonderful to see a previously undramatic politician like Cantwell rebelling against the forces of darkness. ¶ 1:40 PM
