Trashed Reality

clipped from www.washingtonexaminer.com So, just as drug companies and insurers used Republicans to kill the public option before using Democrats to mandate insurance and subsidize drugs, big banks are using Republicans to kill a bank tax while using Democrats to erect barriers to entry, to institutionalize bailouts, and to restore confidence in Wall Street. Lobbyists working on the issue report that the big banks aren't fighting against the Consumer Financial Protection Agency anymore. It's not a big deal to them -- it will probably cost them only the salary and benefits of one more lobbyist or lawyer. Citigroup might hire another Barney Frank staffer. Goldman already has Greg Craig. Pretty soon, the left will be complaining about how Wall Street has "captured" the CFPA. But regulatory agencies aren't kidnapped -- they are born in the custody of the businesses they regulate. This is the nature of the game. And it's a game rigged in Goldman's favor, regardless of Obama's trash talk.