Let Reason Guide Financial Reform

A centrist Democrat after extensive poll research and discussion with lobbyists.

Paul Krugman vents via today's op-ed in The New York Times:

When I first began writing for The Times, I was naïve about many things. But my biggest misconception was this: I actually believed that influential people could be moved by evidence, that they would change their views if events completely refuted their beliefs.

And to be fair, it does happen now and then. I’ve been highly critical of Alan Greenspan over the years (since long before it was fashionable), but give the former Fed chairman credit: he has admitted that he was wrong about the ability of financial markets to police themselves.

But he’s a rare case. Just how rare was demonstrated by what happened last Friday in the House of Representatives, when — with the meltdown caused by a runaway financial system still fresh in our minds, and the mass unemployment that meltdown caused still very much in evidence — every single Republican and 27 Democrats voted against a quite modest effort to rein in Wall Street excesses.

Krugman then goes on to tell a short, rational, fact-based story of U.S. financial history and the events leading up to last year's market crash. Well worth the full read.

Bottom line? In all arenas -- health care and financial reform, national security, education, whatever -- Republican's continue to spout their trademark brand of crazy rhetoric. It's the so-called centrist Democrats that I can't stand. The Republicans will say anything to tear down the Dems and get their party back into power. Simple power play. I get it. They believe in themselves and, collectively, in their party. The centrist Dems, on the other hand, claim to stand by values in line with the Democrats yet believe in nothing but getting themselves reelected, by any means necessary. At best they're mercenaries, at worst nihilists. And while that must be exhausting for them, they're ruining the future for the rest of us.