Midknight Review -- new and revised: Much to do but is there the will to get it done?

Editor's notes: over at Firedoglake.com, we have these words from an article reviewing the congressional assignments of this week.

This will be a jam-packed week for the Wall Street reform conference committee, with a final draft expected to go to both chambers of Congress by Friday. And many of the more important details remain up in the air. In particular, the consequential, hard-wired reforms designed to reduce risk and even the size of risky markets still have to clear the final hurdles. The combination of a strong Volcker rule, banning banks from owning a hedge fund or engaging in proprietary trading, and Section 716 of the Senate derivatives title, forcing the mega-banks to spin off their lucrative swaps trading desks into separately capitalized subsidiaries, could join to manufacture a 21st-century Glass-Steagall Act. And this frightens the financial industry, who want the easy profits provided by the largely unregulated wild west show that currently predominates. READ MORE >>>

More notes: Midknight Review believes the reinstatement of the Glass-Steagall Act could be a good thing; that derivatives need to be strictly regulated per Warren Buffet's thinking (there is over 1,000 trillion dollars - 1,000 trillion - traded in this market - all of the world's economies combined total under 65 trillion !!) ; that Obama has absolutely no clue as to what he is doing in the world of economics and, consequently, is totally at the mercy of those who are advising him.

Point of Post: lots to do this week. Obama could seriously benefit from the advice of those in the GOP camp. Remember Senator Gregg Judd? He's a Republican. Can't be all bad -- Obama wanted him to be his Commerce Secretary. So why has Obama NOT gone to GOP men such as Judd and asked for a little bi-partisan help? Because he never intended to allow the GOP to play game. So the fat cats are getting richer, the housing market is imploding, the debt is out of control, Obama has no plan and the things that really need to get done are being postponed because the people are angry and Obama is busy trying to win an election while MAKING the GOP look like the party of No by excluding them from the legislative process -- jds.
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The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Much to do but is there the will to get it done?

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