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There are two reasons I am a Democrat.
The first is that Democrats are not Republicans. The modern Republican has become a bizarre and twisted hybrid of Ayn “selfishness is a virtue” Rand economic libertarians and Pat Robertson-style pseudo-Christian conservatives. This new hybrid has taken the worst of each of these two kinds of extremists, and made it more dogmatic and more bizarre in its synthesis. Anti-intellectualism has morphed into being opposed to reality-based policy. Morality has become on what people do in their bedrooms, but never about them stealing money from the public or lying about public policy. Support for the free market has become opposition to any kind of regulation or anti-trust laws or civil rights laws. The conservatism of Ronald Reagan and George H. W. Bush became the cronyism and twisted extremism of George W. Bush, Dick Cheney, Sarah Palin and Glenn Beck.
The other reason I am a Democrat is that a majority of Democrats are reasonably progressive folks- about 75% of House Democrats, about 60% of Senate Democrats. That doesn’t give us enough to pass strong progressive legislation, but I’d certainly rather be with a party that’s 60-75% pretty good as opposed to the Republican alternative, which is 95-100% pretty awful. Having said all that, which is extremely obvious to any OpenLefters, let me get to my main point: the Democrats in power make me crazier than any woman the Fine Young Cannibals may have been singing about. Both the policy and the politics of this banking issue could not be clearer: take on the power of the big banks and rein them in. It is as simple as it could be. But Chris Dodd is playing footsie with the bankers, Tom Carper is shilling for them on a full-time basis, and the lobbyists are working their magic. The message is getting muddled, the base is getting pissed, and the clear political edge Democrats have had on this issue is being lost.
The last couple of days have been reformers’ worst days since this issue first was brought to the floor. The mess yesterday on the cloture vote was a classic episode. Look, I am very sympathetic to Harry Reid. The Senate rules are a mess, his caucus is very divided between progressives who want to do something and the full-time shills for the Wall Street lobby, and there really is other pressing business the Senate needs to take up: a supplemental appropriations bill and the bill to extend COBRA and unemployment insurance need to be taken up sooner rather than later. And there is legitimate danger here: the longer the bank lobby has to work on members out of the public eye, the more dangerous our odds get for good legislation. But the Democratic Senators like Carper who are working with lobbyists and Republicans to mess up this bill are playing with fire, and they should be exposed and excoriated. The Republicans who won’t even let a manger’s amendment come to the floor without objection should be attacked and taken on. If that means a little more delay while the defenders of the big banks marinate in the sun for a few more days and good amendments are pushed forward, it’s worth the extra time.
Democrats need to keep being aggressive on this issue, and not let the Republican/banker delay tactics win the day.
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