Manzi approves of Obama's bank proposal:
Make no mistake, many banking executives right now are benefiting from taxpayer subsidies…The “populist” observation that the fact of a bunch of well-connected guys each pulling down $10 million per year while suckling on the government teat constitutes almost certain evidence of self-dealing is accurate, and all the fancy finance talk in the world can’t get around it. President Obama has a clear political incentive to pursue this proposal. I assume Republicans will see that they have a clear political incentive to go along, rather than standing up for such a situation. Hopefully, this will create the political dynamic that will allow real, positive reform.
Hopefully. (Repressing despair, anger and cynicism all at once.)
The Dish 