To those in Washington's Democratic circles who insist that Republicans will not try to outflank Democrats with a populist economic message and tar-and-feather Democrats for their ties to Wall Street, just watch this campaign ad from the special congressional election taking place in New York's 20th district:
I'm not sure this kind of thing is going to work just yet (and this ad in specific likely won't work because it's filled with lies and was pulled from the air) - but as I wrote in a recent column, I am sure Republicans are going to make a strategy out of portraying Democrats as too close to the financial industry. And if Democrats ultimately cede the populist mantle - whether by championing more no-strings-attached bailouts or by refusing to push stronger financial regulations - they will only help Republicans in the next elections.