American Dream

So here is a sample of the partisanship madness.

Democratic Chairman Chris Dodd of the Senate Banking Committee is weighing whether to negotiate with Republicans on the financial regulatory reform bill- madness.

Bipartisan negotiations were proceeding until the White House proposed a tax on big banks (which I support) and a ban on proprietary trading (which I also support).  The White House proposals have alienated many Republicans who see the new proposals as punitive and counterproductive.

Senate Republican Leader, Mitch McConnell told Republican members of the Committee not to support a reform bill unless they were sure it was a good deal (FOR WHOM?) – madness.

Now some Democrats are advocating proceeding without Republican support, though to do so would surely doom its chances of enactment, with the Democrats hoping that the failure to pass a bill would turn into an election issue on which the GOP would have to justify opposing a bank reform bill – madness.

So both parties are prepared to sacrafice meaningful bank reform and improved safety and soundness because of entrenched philosophical positions, which reflect very different constitutencies – madness.

SOLUTION: keep talking, keep working, keep negotiating – failure is not an option.