No One Could Have Anticipated…

3 comments May 14th, 2010at 11:20am Posted by Eli

Hey everybody!  It looks like Blanche Lincoln’s surprisingly populist and progressive derivatives bill was all a sham to get her re-elected!

Earlier today I mentioned that the Senate club was working to protect Blanche Lincoln, first by allowing her to offer up a kabuki derivatives bill which was strong enough for her to counteract claims of being too tight with Wall Street, then by delaying the eventual watering down of that piece in the overall bill until after her Senate primary. I’ve heard that Lincoln couldn’t even defend the concept of forcing the big banks to spin off their swaps trading desks in a caucus luncheon; Maria Cantwell had to do it for her. Clearly, she was fed the most left-leaning derivatives package available, with the expressed intention that it wouldn’t make the bill. Nobody wants to overturn it before it serves its purpose of getting Lincoln nominated for re-election, however.

It’s not like anyone predicted this or anything…

I kind of suspect that this was the kabuki plan all along – let Blanche posture and grandstand as some kind of anti-Wall Street crusader to fend off Halter’s primary challenge, but make sure her bill gets watered down substantially by other Senators before it actually comes up for a vote so her generous Wall Street donors don’t get pissed off.

Otherwise I think Blanche would be in the awkward position of having to vote against her own bill…

Entry Filed under: Corruption/Cronyism,Democrats,Dodd,Economy,Politics,Wankers


  • 1. Spear and Magic  |  May 14th, 2010 at 2:35 pm

    Genius! (Your assessment of the situation, not her or the hapless Senate hacks who are “protecting” her.)

    Who is this David Dayen, and why is he stealing all your good ideas, right down to the “kabuki”?

    And good for the SEIU for refusing to support Lincoln if she wins.

  • 2. Eli  |  May 15th, 2010 at 12:04 pm

    Thanks. I just start from the assumption that corporate Democrats like Blanche are lying their asses off, and everything just kind of follows naturally from there.

  • 3. Charles  |  May 16th, 2010 at 1:29 pm

    Polls say that Blanche earns a run-off. Lot of undecideds… those usually break toward challengers. But if Blanche gets even 40% of them, she bypasses a runoff and gets to lose in the general.

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