http://www.oftwominds.com/blogapr10/vampire-squid-piranhas04-10.html
Vampire Squid, Meet Ravenous Piranhas, 4/19/10.
There is even a slight chance that the Democratic leadership prompted this precise timing to light a fire under reluctant Republican senators to pass some sort of gutted, weak, sure-to-be-unenforced “financial reform.” Once again, for purposes of political theatre, it is important for the Democrats to pass a simulacrum “reform” of Wall Street to appease the frightfully hot public anger at the craven obedience of the political class to the whims and wishes of the big banks and Wall Street.
Meanwhile, as the Republicans claim to have their fingers on “the pulse of Middle America,” their Wall Street-soiled fingers are actually clasped on the cold wrist of the corpse of their own credibility. Resisting bank/financial reform, even a watered-down version, will eviscerate what little credibility the Repubs have left after lording over the destruction of the U.S. economy and their despicable rewarding of Wall Street for eight dreadful years (2001-2008).
In other words, both parties desperately need some political theatre to mask their enslavement to Wall Street and the big banks. This SEC action fits the bill very nicely, along with calling a few incredibly wealthy former CEOs up to Congress for a public flaying.
