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View Diary: Closely-Watched Court Decision Breaks Bad for Wall St. Has A Day of Reckoning Arrived? (154 comments)

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  •  It strikes me that putting in (2+ / 0-)
    Recommended by:
    cotterperson, Paper Cup

    the time for information gathering, paper trails, and accumulating data may be smarter than passing quick-fix laws that can be neutered when the power changes hands.   Perp walks may be emotionally cathartic for us, but pointless for changing entrenched interests.  

    Money talks.  There's no way to make Big Government the bad guy here, it's the free market in action and the free marketers are going to have some trouble vilifying this kind of action.  Plus Holder's clever enough not to move until he's pretty sure he has winnable cases so S&P is toast.  

    This is what it takes to change an entrenched system, a few cracks in the dam widen by way of natural pressures, and good shit happens.  Killing Wall Street sounds good until you understand that the movers and shakers all have safe havens, unlike teachers, firefighters, retirees who don't want to live the bare-bones life SS allows.

    I'm not looking for a love that will lift me up and carry me away. A love that will stroll alongside and make a few amusing comments will suffice.

    by I love OCD on Wed Feb 06, 2013 at 09:24:37 AM PST

    •  No one proposed killing Wall Street (4+ / 0-)

      Just holding them publicly accountable and making them adhere to sensible regulations and transparency. Throw in a little more financial/electoral and political distance between Wall Street money and the federal government.  

      It probably sounds like a radical concept to some Third Way/DLC/Boll Weevil types, but its really pretty sensible reform.  

      Democratic Leaders must be very clear they stand with the working class of our country. Democrats must hold the line in demanding that deficit reduction is done fairly -- not on the backs of the elderly, the sick, children and the poor.

      by Betty Pinson on Wed Feb 06, 2013 at 11:48:24 AM PST

      [ Parent ]

      •  And, as I mentioned in my boll weevilish (1+ / 0-)
        Recommended by:
        cotterperson

        way, easy to neuter or roll back good regulations when power changes hands.  Despite my obvious centrist DLC Third Way proclivities I'm cheering for something that actually hurts the money guys.  Maybe it's not public shaming (that counts for one news cycle but makes some feel good), but I prefer long-term pain for people who fuck the system.  I like the idea that S&P will be disempowered for good, and that all rating agencies will be more carefully vetted as a result.  Rich people are tight with their money you know.  Karl Rove is flailing for relevance, probably a goner as a power broker because he produced jackshit on the investment.  A couple of huge banks losing their safety net will have more impact than anything Congress could pass.

        I'm not looking for a love that will lift me up and carry me away. A love that will stroll alongside and make a few amusing comments will suffice.

        by I love OCD on Wed Feb 06, 2013 at 12:37:28 PM PST

        [ Parent ]

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