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Of course, a deal could happen before August if everyone really wanted one. But that is not the case. See YouTube's 50 Best Videos.
It is conceivable that a new wave of bipartisan cooperation will sweep financial reform into law - even though the House version passed last year with zero Republican votes; even though Dodd's version passed through committee last month with, yes, zero Republican votes; even though Big Finance is blasting boatloads...
Yet their behavior is also consistent with a desire to appear reasonable, maintain the illusion of good-faith negotiations and insulate themselves from charges of carrying the industry's water when the negotiations fall apart. We saw this movie during health care. And if you focus on the fundamentals - political...
Obama clearly wants reform; he's been outspoken about the need for a dramatic regulatory overhaul to prevent another financial meltdown. But he's been so outspoken - especially about the consumer agency - that it would be tough for him to accept anything less dramatic than his tough proposals. And many...
That leads to the most important reason for skepticism: financial reform is so complex and confusing, with so many moving parts, that excuses to say no will be exceedingly easy to find. Even a group of staunch like-minded reformers would have a hard time finding common ground; in fact...