joining us now as refined staff writer for the washington post
with us as well liberal blogger
gently over from the young churches james what do you think wins here in this battle
for the sole the democratic party
well on these issues i can to be a little pessimistic i think you have described it
exactly right
uh... their ballot for the sole right now democratic party and i think probably the
corporates will win
i the progressive almost never win so would be bear tremendous surprise that they pulled
out the victory i hope their strongest and hold on but that's not what history of the
cases isn't true the friend of the of those who would tell the truth check
uh...
that's a good one p_m_ of statement that no you know i admit i was in the outside of this
show there are a lot of media shows out there that help the truth tellers
because they they don't at every media report i here is that they're talking about how democrats
know bob are fighting for a strong reform
and the question is whether they'll get that's wrong or former is not strong at all they
have me you're the only one team is using the sellers betrayed which is that it's actually
totally week reform and is revving his job between week reform or the republican version
which is no reform
so high reward a tight spot
and when it was a spot but you're right because menzel while the bernie sanders is sarah
will be comfortable with that occurs there are lots of and here's the thing on the whole
truth an intentional vision james
this shows rating very well
which may actually result in other people trying to indicate a singling out and tell
the truth which wouldn't be a bad thing
as the how do you analyze what's going on inside the democratic party right now
by the gates we see a lot but i i i think you're exactly right to say that
they're moving in very fast because they're worried about too much debate and i don't
know accused of trying to hide something but
what they learned from health care for my with them and let it sit out the word it dragged
out the other side dot their opposition together they figure out what they wanted to criticize
and they don't want they can they want to move this whole profits on that site please
click n in that way and and this i think is a bigger problem people recognized
they're taking advantage of the fact that the people in general and a lot of legislators
in particular
don't understand the stuff very well
health care for me is complicated yeah but
we've done this before there was a whole intellectual infrastructure in this town devoted understanding
health reform
these guys don't know who to call they they they don't know how these deals work so they're
a lot of folks who just want to get you know they want to get on the right side of the
wall street politics and then get it off of the table one is hard to understand for wall
street by washington politician azar about eliminating bank secrets transparency
which pledge lincoln seems to get and yet there's resistance from
uh... senator dodd to pledge allegiance to reduce proposal which is maybe the only redeeming
aspect of this legislation what is hard for a politician understand as rep
the ratings agencies being employed by the very banks whose bonds there a as opposed
to the pension funds
that by those bonds
but so did you think separately on lincoln's proposal which i think is a a man with a very
good for some angry the only for this reform
is really wall street reform
the opposition as i understand it merely confiscating office wv desks apart from the from the lord
for banks
that is to see the party due to evidence that would have to not be part of of the banks
of the banks again a have access to the federal reserve window they're worried about that
they say they're worried about that because they'd be disruptions overkill it would crash
where this market for all become useful fragile that's the argument there nobody was expecting
it and now they don't know what i did and i i'd say maybe i'd say it is indefensible
i don't care if you are a four year olds
from mars
defined tell you
i am going to gin up exotic instruments and then i need to get a good housekeeping seal
of approval called a triple-a rated into order to sell this concoction of bonds julia retirees
the teachers the policeman etcetera
box
i'm going to make it legal
for those who are selling those bonds
to pay all
off the people who rate them
sell them to the pension manager
and then wager with maximum leverage
pension manager is going to take it in the docs
i don't know whether you need an intellectual infrastructure or not in washington d dec
dot understand the obvious and disastrous conflict of the fact that the regulators in
the ratings agencies ezra and not that you came up with this
those people work for the banks i don't know how much what do i need a think tank
tonight on our or a conflict of interest for an agreement on on this part of representative
why with is so weird about the bill is that we can be found ratings agencies
there a lot of this bill are these bits are complicated derivatives i think we would agree
understanding but my mother i've really got rid of all i can tell you i don't see how
much of the country things agencies and should not be employed by the bank's business simplicity
civilization
within two years
millions of people lost their jobs one out of five hundred twenty-five doesn't have a
job houses are underwater retirees are getting zero percent in our congress wants to russia
a bill that keeps the ratings agencies working
four in the banks after all this has gone down changkat it'd be a deity
it's funny 'em and leave it at that age i dot is there any other awards for its the
stupidest thing i've ever seen in my entire life they said that this is an issue that
is smart verses stupid not lepers is right
that appears to be stupid is winning gentlemen thank you for the time