One of the things I learned in law school is that there is a lot that I
don't know. Specifically, there are many things that I will not know,
despite looking very hard at a book for hours, trying to force my brain
to care. Bank regulation would be one of those things. So, I recognized
that "pleasedontcallonme pleasedontcallonme pleasedontcallonme" look on
John McCain's face at the White House meeting yesterday. Brought back
memories of antitrust class, circa 1999.

Fortunately, people smarter than me have opinions on this issue.

Punditmom put up a great post this morning describing her experiences as an
attorney for the SEC. It all kind of boils down to this: "if you don't
keep a close eye on people, when it comes to money, sometimes they
can't help themselves." (Wait a minute - I do understand that!) She also passed on a link to this video, originally posted by thesoccermomvote.

Marcy Kaptur is officially my hero. Watching the news today, it's
impossible not to notice the gamesmanship involved in these bailout
negotiations, and it's a little nauseating. OK, a lot nauseating. Not
in an I've been up too late partying and feel sick kind of way, more
like an "ohmigod I have a fever I think I'm going to die" kind of way.

It's taken 20+ years
to get us into this mess, and apparently we have to solve it right now.
today. before the debate. Or? I don't know. But here are the actual
issues that are holding back a compromise right now:

House republicans would like to see a bill that injects private capital,
rather than tax dollars, into the market. --Wait, shouldn't that be a
good thing? Well...the way we'll make that happen is by "easing tax
laws" to encourage private investment. Huh. Really, right now, a tax
cut? The Treasury Secretary himself says this will not work.

Also an issue in contention: "golden parachutes." I can't find too much
detailed coverage of the issue today, but there has been talk in the
past of not wanting to cave into republican demands for the personal
financial bail out of CEOs.

Whatever decision is reached, I'm with Marcy Kaptur. Please. Please. Let them make it for the right
reasons and leave gaming out of it. 

Cross posted to Kitchen Table Issues