Is this the issue on which Democrats take the offensive?

Do you know of any issue upon which Dems will take the offensive, Steve? If they had one-tenth the energy the Republicans did in criticizing the other white mea...excuse me, mainstream political party, they would long since have formed a united front at least before the media, and done themselves a world of good. But they appear to have risen to new heights: no longer snatching defeat from the jaws of victory, they claim to have lost even after they've won. Amazing.

Is this the issue on which Democrats take the offensive?

It should be, but Democrats don't play offense.

Don't hold your breath waiting for the gratitude of the American people. As you've noted several times in the past weeks, Steve, despite the rank stupidity of the Republicans, they seem to be going up in the polls, while Obama and the Dems are going down. Americans apparently LIKE getting ripped off by white-collar criminals. Hey, I don't get it, either.

(The bill) would create an agency to protect consumers from abusive lending practices, set rules for the trading of some of the sophisticated financial instruments that fueled the crisis, and take steps to reduce the threat that the failure of one or two huge banks or investment firms could topple the entire economy. -- NY Times

As with health care reform, the devil is in the details.

Democrats don't seem to understand that not only do the new regulations have to prevent Wall Street from acting recklessly, but the rules have to be Republican-proof as well. The rules have to be written in a way that the next Republican president can't appoint laissez-faire regulators who, through incompetence or malfeasance, can make themselves blind to obvious violations -- just as Dubya did.

Like I said yesterday, I'm already starting to think about how to prepare for the Great Recession of 2020.

The goal, apparently, is for Republicans to actually suffer some electoral consequences for this one.

I hope they practice on the Blue Dogs first. Like my Rep, first (and I hope last) termer, Bobby Bright. Until the DNC promises to give not one cent to Bright and the other Blue Dogs, I don't care what they do with the Republicans.

following on from steve's comment "exactly zero House Republicans voted for watered-down safeguards, deeming them too onerous," i wanted to note that the doughy pantload's latest la times craptism explains how "the democrats are the party of big business"...whatever irony left that bachmann hasn't killed got taken down by mama's boy...

Is this the issue on which Democrats take the offensive?

No!

This has been another edition of short answers to short questions.

If I were the Democratic party's marketing guru, my main message in upcoming elections would to be compile the full list of major legislation or policy or appointments to which the GOP's only response has been NO.

Equal pay for women
Financial reform including credit cards and mortgages
Global Warming Action
Energy Conservation
Judicial appointments
Health Care reform
Consumer Protection
Rights to Organize
Privacy
Wall Street Bonuses and Salaries

Add to the list cuz I have no doubt missed some, but you get the point. Bottom line question is what IS the Republican program for America? What DO they stand for other than Opposition. Your choice voters is between a party that is at least trying to improve things, and one with no plan, no program, no ideas and no future except for a return to the principles which got us into this huge mess in the first place.

...and take steps to reduce the threat that the failure of one or two huge banks or investment firms could topple the entire economy.

That is to funny. The steps needed are to crack them up into smaller ones and eliminate the phony baloney practices. Am I missing something other than the obvious taxpayer bailing them out when history repeats itself? This country is being wallpapered with worthless laws.

a) As noted above, the Democrats don't know how to play offense.

b) What the House passes is irrelevant since this will be filibustered in the Senate.

Yet another half-hearted attempt by Dems, with no teeth and no will to really take on Wall Street.

In the words (floor speech) of Rep. Marcy Kaptur (D-OH, 9th Dist.):

Real reform means breaking up the big banks. Real reform means empowering community banks and local capital accumulation. Real reform means separating speculation and investment. Real reform means restoring prudent lending. Real reform means restructuring troubled housing mortgages. Real reform means rewarding institutions that play by the rules and don't over-leverage. Real reform means prosecuting financial white-collar criminals and keeping them out of finance permanently.

Real reform means directly connecting executive pay and bonuses to the performance of the company and recouping the $145 billion in unwarranted bonuses for the American taxpayer. Real reform means regulating all derivatives openly and clearly. Real reform means limiting interconnectedness between large financial institutions. Real reform means independent supervisory and regulatory agencies that do their job--independent supervisory and regulatory agencies.

The bill that will be considered tomorrow, as it was today, merely bunts at wrestling casino capitalism to the ground. This bill, like so many before it, will simply lead to more abuse, more risky behavior, and more reward for the most hazardous and imprudent characters.

For full text, see: http://www.kaptur.house.gov/index.php?option=com_content&task=view&id=517&Itemid=1

You find this behavior bizarre. Perhaps you need to view the issue differently. Have you considered the possibility that the super rich are TRYING to collapse the USA economy? What would a failed economy look like and who would benefit? Don't let the notion that the highly mobile wealthy give a rat's ass about this country (or any other) cloud your thinking.

@Chopin, Not sure to whom your post is addressed, but I don't think the super rich are trying to collapse the economy. No, that's just a byproduct of sucking everything of value out for themselves.

Because of our campaign finance laws, such as they are, the rich (or more specifically, the corporations which they inhabit) dictate the behavior of the majority of those in Congress, including the Democrats.

Unless we have publicly financed elections, we will continue this downward spiral in which nothing is done to truly address the critical problems in health care, the economy and the banking industry, and education. Our Democratic Congress is only too happy, with a few exceptions, to sell out the middle class and blue collar workers for the corporate campaign contributions that keep them in power. Staying in office/power is the sine quo non for our elected officials.

Devilgod - perhaps. I can believe that the wall street greedy and their peers are to the mega-rich what the tea-baggers are to the corporatists. But the handful of whom I speak are the very few at the very top. Read The Creature from Jekyll Island by G. Edward Griffin and Shock Doctrine (Disaster Capitalism) by Naomi Klein. If only for a different perspective.

What difference does it make? They don't enforce the laws and regulations that already exist, so does it matter if they pass new regulations that they will also not enforce?

Devildog, under current conditions publicly financed elections just means that millions more of our tax dollars will be handed to the corrupt fat cats and gangsters in the Democratic and Republican parties. I'm all for reforming the electoral process, but I don't want a penny of my money going to any politician corrupt enough to belong to these two organized crime syndicates disguised as political parties. Not under any circumstances. That would just be the ultimate scam and yet another ripoff. The first step in reforming the politics in this country is outright banning of the Democratic and Republican parties, the way that the Germans banned the Nazis. Nothing short of that will work.

Rep. Kaptur (D-OH, 9th Dist.) speech hits the nail on the head. This bill does not represent real reform, just more window dressing.

So the DC Democrats end up losing all of the Republicans, and a large part of their own base.

I wonder what Democratic numbers would poll if they actually started supporting the Middle Class rather than trying to put a positive spin on more laws allowing large failed corporations to leech more taxpayer dollars down a black hole.

Democrats go on the offensive? I am not sure if I am supposed to laugh or weep. The only way the word "offensive" can be used in relation to the term "Democrat" is in describing the depths to which most (by no means all)of our leadership sinks before it occurs to them that they can actually fight back. In a the Lord of the Flies World in which we are living, the Democrats get to play Piggy once again.

Is this the issue on which Democrats take the offensive?

What devildog said.

The Dems feed at the same trough as the GOPers -- they're just less obvious about it.

@Chopin: Read the Creature from Jekyll Island. That's why I was glad to see the House pass the audit of the Fed bill, one step in the right direction. I'm a big fan of Naomi Klein as well, although I haven't read Disaster Capitalism, just watched some of her lectures.

Honestly, will you guys stop with the cramdowns already? Those idiots were SPECULATORS and then don't deserve principal reduction*. As yet, our erstwhile leadership hasn't strapped on a big enough set of stones to actually regulate the financial sector but until they do, the least we can do is acknowledge moral hazard on our side.

*unless the case is one of medical bills bankrupting a family.

As usual, Steve is right. The omission of the cramdown option is terrible and will cripple a lot of individual recoveries; it's not as if anybody can go in and say, Hey, if you're going to reduce my neighbor's mortgage, you should reduce mine. This is a provision to give judges power to make personal financial recovery possible, and to get to that point a person or family has to be declaring bankruptcy -- not something most people want to do. The purpose of bankruptcy is to allow people a debt-free if pretty Spartan fresh start, and judges formerly had what's now called cramdown power before the Republicans took it away from them because Republicans don't want anyone to get a break unless it is they themselves on the public tit.

bla bla bla, ginger, bla bla bla ginger

By all means. If Great Britain and Europe are pushing the 50% surtax on banker bonuses, then make sure the Republicans are on the wrong side of that issue here.

Here are two more representatives that need to go. Rep. Chet Edwards and Henry Cuellar. Both of them are Democrats, but they have a record of voting Republican. Chet voted against both the Wall St. reform bill and the health reform bill. Henry voted against the Wall St. reform bill. Both of them need to go, the sooner, the better.

Edwards states in his home page how he joined the US Chamber of Commerce and Association of Manufacturers (among other similar groups) in voting for oversight of financial institutions and protections for people. He then went to great lengths making himself sound like a fighter for the people, but his statement that he favors the COC and the Association of Manufacturers sort of means he's talking out both sides of his mouth.

I think you are right. But you should cover more on this topic.

I think you are right. But you should cover more on this topic.

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