A historic win for President Obama overnight, re: FinReg --- This is a BFD!!!

[Change Happens]

The Volker rule stays in and the Blanche Lincoln language holds --- This is amazing.

For progressives, this may be even bigger than the Health Care Reform bill!!!

What a week for the President:

1) FinReg
2) $20 Billion from BP
3) The Petraeus decision!!!

What a year, so far:

1) Health Care
2) FinReg
3) ? Climate?

They are really trying NOT to cry on CNBC this morning...I am loving it! Everyone thought this bill would be watered down, but it was not! A reporter declared the lobbyists lost, the President/people won, they could not stand in front of this fast moving train...

[cutlassmama]

1. YAY!

[impik]

2. This man just keeps going and going and going

[TlalocW]

51. I'm tired but the image...

Of Obama in a pink bunny suit beating on a drum makes me smile.

TlalocW

[geckosfeet]

3. The financial "regulatory reform" bill appears to be a one toothed tiger.

From what I can tell, there are a couple bones thrown to consumers, in exchange for setting up commissions upon regulators upon oversight committees instead of instituting reform on the spot.

What's in the bill
Highlights of the bill

One item that I liked:

Spinning off swaps desks: Big banks that want to engage in nontraditional bets, such as on mortgage products or certain commodities, would have to spin off their swaps divisions.

So they spin off a division to further obscure and remove their trading practices from public view. We will still foot the bill when they fuck up.

[Aramchek]

28. key statement: "From what I can tell"

[girl gone mad]

35. It's still full of loopholes..

and will be subject to further weakening by the regulators.

If you want the real verdict on this reform, look at the performance of the banks' stocks over the past few weeks. They are celebrating.

[zenprole]

68. Agreed

It's delusional to cheer on these deceptive and very shallow legislative "victories."
- 'FinReg' fails to solve even minor systemic issues and is a sham.
- $20bn from BP is a drop in the bucket. $200bn would have been a proper down payment on expenses at least an order of magnitude beyond that.
- Afghanistan is a pointess and very expensive quagmire; if rational thinking entered the equation, we never would have gone there or would leave immediately.

If this is success, what happens when he starts to fail?

It's become very unfashionable to offer critical thinking on DU, so here's more:
- the health care bill is a trojan horse that the insurance companies love.
- the climate bill now being mangled is even worse than that.
- the party rolled over on unemployment insurance while readying another war supplemental. Why not move the Pentagon over to Treasury and call it done?

[Aristus]

97. The tiger is the largest cat on the planet.

Even with just one tooth, it can fuck up your shit...

:P

[jefferson_dem]

4. Obama's list of signature-item accomplishments continues to grow...

His first term success-rate rivals just about any other since LBJ, in my opinion.

[Change Happens]

5. Agreed....nt

[impik]

6. Beats them all. Easily. In quality and quantity.

[DarthDem]

9. Yep

Agree 100%.

[bjobotts]

70. Still lacking for what could be but imagine McCain/Palin. Nothing would even get addressed

[GeorgeGist]

7. Progressives were mighty disappointed by the "HCR" bill.

From what you're saying, Progressives will be even more disappointed by this Historic Win for President Obama.

[vaberella]

12. Far from it. I was not disappointed. And many people who read the bill weren't.

Don't get me wrong, it wasn't perfect and it wasn't single payer. But it has changed a lot for thousands of people in the United States and No one, no one can deny that. They might want too..but it wouldn't be factual. And you're trying to tell me that the Volker rule won't make progressives happy?! You've got to be kidding me.

[tomp]

65. it wasn't perfect.

we have the worst health care in the industrialized world and we pay more for it than anyone else in the industrialized world.

no, you're right, it wasn't perfect.

[Enthusiast]

80. At least our drugs

are low priced.

[impik]

14. Progressives are mighty disappointed by everything

Especially, by progress.

[harun]

17. That is because Progressives do their homework and don't just

read the headlines. They know the details of these so-called wins and see they are not what the headlines make them out to be.

[Fruittree]

76. What I think you're failing to take into account though...

is that change will be incremental and slow. Given the Congress/Senate he's had to work with, it's nothing short of a miracle that he's gotten anything done at all. In my opinion, complaining and failing to acknowledge Pres. Obama's successes while blaming him for everything that's wrong does nothing but play into the hands of those who want him to fail. We should instead be putting the blame when we don't get as strong of bills as we'd like right where it belongs - on the obstructionist Republicans and their "conservative" Democratic buddies.

[harun]

86. I think raising the bar makes them keep working for support.

[bvar22]

89. obstructionist Republicans and their "conservative" Democratic buddies.

If the White House would stop actively campaigning for these "conservative" Democratic buddies, you might have a point.

[kuroman992]

41. yes, progressives are all wrong about everything.

yes, progressives are all wrong about everything.
to hell with real reform.
Lets start with a compromised position, then lower the bar more and more and more, and then at the end, throw a crumb in there so the cheerleaders can claim thier empty victory.

You people are the reason we are gonna lose the house, senate, and the presidency.

DLC cheerleaders.

I stand as a real progressive, keep your crumbs, ill fight for a real piece of the pie.

flame me, tombstone me, but remember what i said when the republicans gain power again.

[Fruittree]

77. The Republicans aren't completely out of power -

This is not a monarchy or a one party system - Whatever change is going to happen,has to happen through our legislative branch and if a large group decide that their number one mission is to make the Pres. fail and look bad, then how can you blame Obama when bills aren't as strong as you'd like? He can only sign the bill he's sent...

[Enthusiast]

81. Exactly.

Most middle of the roaders and conservatives are already Republicans. That leaves progressives. But don't say it, it isn't popular.

[cleveramerican]

82. You speak for all progressives?

or just the perpetually pissed off ones?

[treestar]

91. that's life

all past change was incremental. It took years to get what we do have.

Yeah, the progressives are weak if they can't stand the heat and be persistent.

[Change Happens]

21. I am extremely happy with the HCR bill.............nt

[RBInMaine]

25. "Progressives" need to start valuing "progress" again, not perfection.

[Fruittree]

78. Agreed!

[Raineyb]

94. And the DLC bootlickers should learn the difference between actual progress and posturing. n/t

[Aramchek]

29. everyone say hello to "Progressives". who knew one could speak for so many?

[progressoid]

33. +1

[grahamhgreen]

60. Mandating trillions to big insurance was not a win for progressives.

But it was for big crapsurance - just look at their stocks!

[bjobotts]

71. Single payer Medicare for all is a big win for progressives who always want what is right to begin w

[dotymed]

83. Progressives? How about poor people?

Don't you think they deserve health care and REAL financial reform so that they stop getting screwed from the banksters? Really, if your income is low, then you are charged twice as much. If you can prove you do not need financial help, then you can have all you want.
Some fairness in "our" system is much needed.

[Raineyb]

95. Poor people are more likely to use pay day lenders. Guess who was

left out of "financial reform"

The poor will continue to be fleeced while "Democrats" cheer and move on to the next faux reform package without bothering to look back.

[Odin2005]

101. Haven't you heard? Poor people don;t matter anymore!

It's all about the "middle class", a BS term that divides the Upper Working Class against the Lower Working Class.

[liberalla]

8. Whew! that IS great news!

:woohoo: :woohoo: :woohoo: :woohoo: :woohoo:


Yippeeee! :bounce: :bounce: :bounce: :bounce:


:fistbump: :applause: :fistbump: :applause: :fistbump: :applause: :fistbump:

[vaberella]

11. It is nerve wracking isn't it? n/t

[vaberella]

10. Don't forget the move on DADT. Financial Aid for student reform. I'm waiting on DOMA next. n/t

[Change Happens]

43. Thank you for the reminders, Yes! We can...

I am loving it :)

[IOKIYAL]

13. What Happened To: Dems Side With WallStreet......Again - ?

that was one of the headlines around here yesterday and today we find that two of the better pieces were kept in tact.

I shouldn't be surprised - the headline was from HuffPO.

[Pirate Smile]

15. Drudge attacks Obama from the right constantly and Huff Post attacks Obama from an incoherent left

constantly with distorted and manipulative headlines.

Did you hear unemployment insurance went down yesterday and it was Democrats fault?

I thought it was Republicans along with Ben Nelson who killed it in the Senate but then I saw the headline on Huffington Post so I found out it was Democrats fault that the long-term unemployed will have their benefits end.

As usual, with friends like that, who needs enemies.

I love seeing an extremely negative headline, slamming Dems then reading the actual link to find out - ooops, actual the opposite is true.

[Change Happens]

23. Yes, Amen to what you say, and we keep moving THINGS forward --- Progress from a PROGRESSIVE Pres!!!

[harun]

16. Weak sauce.

[The Doctor.]

38. Yeah, I didn't get a pony either.

So what if the guy made a first down against Godzilla, Rodan, Gamera, and Mothra during a Hurricane while the crowd was pelting him with BB's and the field was covered in oil?

He STILL didn't score a touchdown and I still didn't get my F#@&ING PONY!

... and I want a Bionic one!


... that shoots lasers!


... and flies!

[Dr Morbius]

55. Thank you for this post. (nt)

[bertman]

67. Yeah, wouldn't it be cool if it were FANTASY instead of real life?

[harun]

85. My list (warning, no ponies)

* Ending Cuba embargo, normalizing relations
* Single Payer Health Care
* Making higher education more accessible and affordable to Middle/Lower class
* Making housing more accessible and affordable to Middle/Lower class
* Reducing military spending
* Ending occupation of Iraq
* Ending occupation of Afghanistan
* Closing Guantanamo Bay
* Capping Credit Card interest rates
* Getting electric cars available for sale (not lease)
* Building new high speed rail routes

[The Doctor.]

92. I'd consider that a series of game-winning touchdowns.

Unfortunately, one look at the field should tell you the chances.

[harun]

96. Yah, hope we get one of them.

[yeswecanandwedid]

18. I read up on the Volker rule, but what is the "Blanche Lincoln language"?

Thanks in advance.

[yeswecanandwedid]

19. Nevermind, found some info here..

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/25/AR2010062500675_pf.html

[yeswecanandwedid]

20. The Dodd-Frank bill.. how bout' that!

[lamp_shade]

26. It s/b the Frank-Dodd bill. Barney rode herd on BOTH houses.

[Clio the Leo]

22. Love the topic of this thread coupled with your screen name....

.... lovely to see those two images on my screen together. ;)

[Change Happens]

24. One day at a time! One Bill at a time...nt

[Scurrilous]

27. K & R

:thumbsup:

[MadMaddie]

30. But.

But...his approval ratings...:sarcasm: this is what I heard from my Repug coworkers yesterday.

[Change Happens]

31. He won with a little over 52%...Democracy is 50% + 1 vote, staying at the levels

he has been at is simply amazing...They have thrown every thing at him: From Arab/Moslim to Nazi, to Communist...etc. A year and a half worth of an all out assult and ZERO cooperation from the GOBP in Congress so far...These people should be ashamed for their results!

[MadMaddie]

34. I think they are on the edge of consuming themselves

Isn't there a mythical snake creature that does that? They have crossed the point of no return.

[boppers]

40. Ouroboros

http://en.wikipedia.org/wiki/Ouroboros

[MadMaddie]

99. That's it! Thank you!

:hi:

[amborin]

32. in an otherwise gutted "reform"bill, which will not prevent another collapse

[The Doctor.]

36. I still didn't get my pony.

:(

[DCBob]

37. WTF?? I dont think anyone, even its biggest supporters are this pleased with the bill..

Maybe you are being sarcastic?

[Change Happens]

42. Nope....A great win for the Pres and Liberals/Progressives we helped put in office in 2006 and 2008!

Change we can believe in...

[DCBob]

44. Yes, but no one should be satisfied with this bill in its present form..

This bill as well as HCR needs serious improvements. I think they are both BFDs but cheerleading a partial victory can be just as harmful as bashing it as worthless.

[dadzilla]

72. Agreed, but,,,

Here's the point I would make.

I it perfect, I rather doubt it. I doubt anyone can guess the next scam Wall Street will unleash on us. But it's a start and sometimes that's what you get. We ought to take a clue from how the right wing operates. Often it isn't the big things they do so much as the cumulative weight of the little things that cause havoc.

Take our housing disaster as example, there wasn't just one thing that caused it. But if we could have taken just a couple of steps, it would have been much less painful to the nation. If we had not repealed the Glass-Steagall Act, that would have been a blessing. If we had put in stronger oversight and consumer protections from predatory loans, that would have greatly helped.

Some will see this as the glass half empty, to them I would say if your in a dessert, half a glass can be the difference between life or death.

[liberation]

46. Who is this "we" you talk about?

Everyone is a "progressive" now? Even milquetoast centrists...

[great white snark]

93. So you decide who is liberal?

Got it...am new to the board and was wondering who to speak with to get my liberal credentials.

[rury]

52. Change we can use!!

[sabrina 1]

79. Um, I think you're a bit confused.

This bill is a huge disappointment and will do little to prevent what happened before. Of course if you just want to cheer yourself up, and who can blame you the news is so bad everywhere, then far be it from me to explain why your exuberance over this bill looks a little strange. For a Democrat I mean.

[tekisui]

87. Great wins for the Pres are fine. We need great wins for the people.

[AlinPA]

39. The full House and Senate have noted voted on the bill yet. There is still the little

issue of a republican filibuster. They don't want anything to go through that President Obama wants.

[liberation]

45. Center-right peeps not understanding why the left ain't thrilled about any of this in 4...3...2...

[ProSense]

47. Major Provisions in the Financial Overhaul Bill

Major Provisions in the Financial Overhaul Bill

[Cha]

49. Thanks Pro Sense.. for

the facts.

[madrchsod]

57. well it`s a dam good start...

there`s a few provisions that seem a bit weak but over all ya it`s a dam good start.

[bvar22]

90. Damn good start ?

No.
Its a Piss Poor End.

Do you really believe that Washington is going to go back and "fix" any of these later?
No.
They will label these failures as "The Most Far Reaching Reform Ever!",
pat each other on the back in front of the cameras,
congratulate themselves on their "heroism",
declare "Mission Accomplished",
.
.
and catch the first private jet to their Corporate sponsored Golfing vacation (oops, I meant fact finding mission),

while more of the sweat from the Working Class is converted to CASH for the Top 1%.
We will be forced to live with these non-reforms for a long time.
Deep systemic changes were needed, not mild tweaking around the edges.
The basic structures that caused the problems have been left intact, and in most cases (Health Insurance Industry and Wall Street Banks) have been consolidated and strengthened.
.
.
.
Follow the money.
"By their works, you will know them."

[readmoreoften]

48. Oh my god! You're ACTUALLY CITING PETRAEUS as some sort of WIN???!!!

You people are ridiculous. If you call this "financial regulation" you've got to be joking. This is like getting a $30 rebate on a new car sale. And while we're at it, how dare you cite "climate" as some sort of "Obama victory" as well.

I'm all for celebrating victories, but celebrating Petraeus has got to be on par with celebrating the fact that rotten has been replaced with also rotten.

[DCBob]

50. I'm a bit of an Obama cheerleader myself but this person is serioiusly over-the-top..

I would disregard.. he/she/it does represent those "satisfied" with President Obama.

[ProSense]

53. "CITING PETRAEUS as some sort of WIN" Why not?

Three-Dimensional Chess.

"If you call this "financial regulation" you've got to be joking."

Maybe you don't understand that doing so is not funny.

[leftstreet]

58. +1

Thank you

[grahamhgreen]

61. He followed mchrystals escalation strategy, then had to fire the guy. Now he's in mcc's quagmire, no

Win at all.

[Divine Discontent]

63. LOL... so true, and sad, isn't it? Petraeus is a win! epic fail.

and sadly, there's all kinds of financial experts that are saying this bill didn't go far enough to stop the corruption on wall st., and keeps all the regulatory agencies intact instead of clearing that up, and more. It does do some good things for us, but the people that caused a good chunk of this mess have to be awful gleeful over this bill.

[Grinchie]

54. Keep wishing, but real economists are raising the warning flag and being ignored

Have you actually read the bill, or are you just cheerleading as a knee jerk reaction?

I haven't read it yet, but when I see idiots like Larry Summer claim that all of the Tarp money has been paid back with interest, like he did recently, and have to ask myself why the Economy is still in the shitter, or why they are desperately trying to extend unemployment benefits to 24 months instead of just admitting that the economy sucks, deal with it.

Nope, not in an election year, and the tired old gimmicks are being rolled out, right on queue to stupefy the masses into voting for their promised Virtual Pony yet again.

What a year!

1) Mandatory Health Insurance for all mandated by the state!
2) FinReg that who knows what in it -- time will tell
3) Climate? Disaster!
4) Fleet of new Nuclear Power Plants - Duh, Photovoltaic? Huh?
5) More Offshore Drilling!
6) No More Offshore Drilling!
7) Xe contract for 120 Million Dollars! -- Yay!

Hate to be the bearer of bad news, but this is all real, and your cheerleaders outfit is growing threadbare.

[TxVietVet]

56. It's about time!

Let's hope the Dems and Obama can keep up the good work. With the NO party causing problems and no legislation getting through, they want to proclaim the Dems can't do anything. "they can't govern!" Remember next time the Dems have the minority to become the NO party. Block everything the conservanazis want to pass, which will probably be tax breaks for the oligarchy.

[grahamhgreen]

59. HCR was a big lose for the progressives, until we get a public option or Medicare expansion

Right now it is an insurance scam

[inna]

62. lulz

You cannot possibly be serious.

This is one of the most ridiculous posts I've ever seen.


"For progressives, this may be even bigger than the Health Care Reform bill!!!"

"A reporter declared the lobbyists lost, the President/people won, they could not stand in front of this fast moving train..."


What total and complete bullshit.



"What a week for the President:

1) FinReg
2) $20 Billion from BP
3) The Petraeus decision!!!

What a year, so far:

1) Health Care
2) FinReg
3) ? Climate?"


People lost, corporations won on all of the above.

[Historic NY]

64. Well my bank bonds jumped to a 5yr high yesterday. guess they liked the bill.

[donheld]

66. But no jobs in sight

[daleanime]

69. The fact that you compare it to the insurance reform bill...

tells me all I need to know.:banghead:

[jgraz]

73. In other news, East Asia surprised to find out that we've always been at war with them.

:eyes:

[deacon]

74. BIG k + r! n/t

[depakid]

75. There were 4 major problems to be dealt with- and this legislation didn't solve even one of them!

[JoeyT]

84. I thought the president had no power whatsoever other than to ask "pretty please".

So why is it that good things are always a "win" for him, but none of the bad stuff can be laid at his feet? :silly:

[jgraz]

88. Shhh, dude! You'll harsh our buzz!!

Note how none of the objections to this post are being replied to. The goal is no longer to have a dialog, it's to push a particular viewpoint.

[iamthebandfanman]

98. besides 20 billion from BP

the others were half assed.

if doing things half way is an accomplishment, sign me up to be president... id probably be the greatest ever.

[Odin2005]

100. This bill is a watered-down joke.

Chump-change that leaves the Banksters in charge.