My question is what is going to be done about this once this fabulous deal is done (if it gets done.) The Republicans have already set themselves up as the scourges of Wall Street and Washington perfidy, (as if they haven't been furiously servicing their Big Money bosses for the past decade like cheap, two dollar whores.) They will get some gold plated pitchforks and immediately begin running against the big spending liberals and their rich friends.
And after this week, it's going to be much easier for them to make that case. Even if it passes, it's clear that it will happen with at least a fairly large number of Republicans voting against it. (It still remains to be seen if McCain will find a way to vote against it. He's a gambler, and he may just go all in... )
The argument over this bailout is going to be with us for a long time to come and unless Democrats play this right, they are going to wind up holding the bag. The "populist Republican" meme is already out there and starting to take hold. They've bet on this economy getting very bad and being able to blame the hated Bush and Clinton for causing it and then blame the Democrats for throwing money at the problem and failing to solve it. Why would the Democrats let them do that?
Right now I'm watching Pelosi and Reid, Frank and Dodd stand there all by themselves taking "credit" for this bill. They are handing out plaudits to all the others who "helped" them get it done like members of "the Hills" at the MTV awards.
The optics are all wrong. If they really feel they have to do this thing each one of them should have a Republican under each arm every time they make an announcement.
This is much sounder political advice than Pelosi, Reid, et al. are apparently getting. It is amazing to Spot that a financial crisis of laissez-faire capitalism may turn into a political disaster for the Democrats.
Please read the entire Digby post.