Now that Sen. Dodd has released his financial services reform bill from committee across party line votes, I was trying to come up with a few reasons why republicans don't want reform. I would have liked to have come up with just 10 reasons, sort of Dave Letterman type list, but I can't seem to stop at just 10.
- Bernie Maddoff is such an honest, trustworthy, well respected guy. Who wouldn’t want to invest in a ponzi scheme. We like them as much as we like monopolies.
- We would rather have the banks suck up consumers disposable income with those 35% APR interest rates than give that money to the government
- What’s not to like about the people who caused the crisis to reap the rewards?
- Why shouldn’t our sponsors be able to engage in deceptive business practices? We do all of the time. What’s the problem?
- The bigger the better, baby
- Nanny State! Nanny State! Nanny State! Na Na ne Na Na.
- All of this regulation is just too costly for big business, and besides free markets will solve every problem known to man.
- What a fantastic way to cut down on the size of government everywhere.
- Why shouldn’t the people who do the ratings for bonds get paid by the bond issuers? The agencies have to make money somehow.
- The more unstable neighborhoods are because of foreclosures, the more we get to carry our guns around for self protection.
- Gambling with other people’s money is such a rush.
- Fiduciary responsibility is so 20th century.
- We have to have gigantic banks in order to serve the global economy.
- How else are you going to get rich by producing nothing, owning nothing, and risking little without derivatives.
- Indentured servitude for everyone else is the path to republican wealth; republicans love the payday and title loan industries; we do those customers a favor by charging them 500% APR.
Here's a chance to engage in a little participatory snarkism, so snark away. Let's see if we can out compete each other in snarkism. If you can come up with your own top 10 list, feel free.