Who's Really Killing Financial Reform? - by Reich

Great post from Robert Reich: "Some Democrats are quietly grumbling that all the tough talk emanating from the White House in recent weeks — the President calling the Street’s denizens “fat cats” and threatening them with limits on their size and the risks they can take, even waiving a watered-down version of Glass-Steagall in their faces — is making it harder to collect money from the Street this mid-term election year. And the Street is quietly threatening that it may well give Republicans more, if the saber-rattling doesn’t stop.

Congress isn’t doing a thing about Wall Street because it’s in the pocket of Wall Street. Dodd’s outburst at the Street is like the alcoholic who screams at a bartender “how dare you give me another drink when all I’ve done is pleaded with you for one!”

Dodd is right about one thing. The American people are frustrated, and the failure of Congress to pass real financial reform is insulting. But in trying to place responsibility for this appalling failure on Wall Street, Dodd insults us even more.

via robertreich.org