The 17 Democrats selling out on bank regulation is worse than it looks

[zipplewrath]

42. We're in the minority

If one expects things to move forward when in the minority, one only gets the "small" stuff. You can either block, or participate. In the short term this appears to be a small risk. The riskier elements of this will not play out for a few years. If we get in the majority, even if just in the executive branch, we can handle much of the risk through regulation. It is always true that regardless of what legislation one passes, the regulators control everything.

Quite honestly, this bill could have easily made it through a democratically controlled senate as well. It might not have been as "bad" but their is a tendency to pass this kind of stuff when "we" are in control and feel we can control the risks. Ya get 30 democratic senators and 20 GOP and the thing passes. It's why the liberals get so pissed because the conservative side of the party knows how to leverage the GOP to get stuff passed that the party generally doesn't support. When the GOP is in charge, it gets even easier.

This kind of bill is why the left was so unhappy with Dodd-Frank to begin with, because it didn't address the underlying issue. Once you become "too big to fail" it doesn't matter what regulations to which you are exposed. You're still the problem. Dodd-Frank tried to say what regulations would prevent you from "failing". The left wanted to say, "we can't be prevented from letting you fail". The risk here is that they want to declare a group of banks up front that they are "too small to be a problem". They may be so today....