Frank Rich Unloads On Obama - Democratic Underground

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Sun Oct-04-09 08:27 PM
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Frank Rich Unloads On Obama

The Rabbit Ragu Democrats
By FRANK RICH

...Barack Obama promised a change from this revolving-door, behind-closed-doors collaboration between special interests and government. He vowed to “do our business in the light of day” — with health care negotiations broadcast on C-Span — and to “restore the vital trust between people and their government.” He said, “I intend to tell the corporate lobbyists that their days of setting the agenda in Washington are over.” That those lobbyists would so extravagantly flaunt their undiminished role shows just how little they believe that a new sheriff has arrived in Dodge. . . .

Obama’s promise to make Americans trust the government again was not just another campaign bullet point; it’s the foundation of his brand of governance and essential to his success in office. At the first anniversary of the TARP bailout of the banks, we can see how far he has to go. Americans’ continued suspicion that Washington is in cahoots with powerful interests . . . is contributing to their confusion and skepticism about what’s happening out of view in the battle over health care reform.

The public is not wrong. The administration’s legislative deals with the pharmaceutical companies were made in back rooms. Business Week reported in early August that the UnitedHealth Group and its fellow insurance giants had already quietly rounded up moderate Democrats in the House to block any public health care option that would compete with them for business. UnitedHealth’s hired Beltway gunslingers include both Elmendorf Strategies and Daschle, a public supporter of the public option who nonetheless does some of his “wink, wink” counseling for UnitedHealth. The company’s in-house lobbyist is a former chief of staff to Steny Hoyer, the House majority leader. Gephardt consults there too...

Meanwhile, we’re hearing of behind-the-scenes Congressional softening of perhaps the most promising component of the White House’s modest financial regulatory package, a Consumer Financial Protection Agency. Real-estate brokerages are being exempted from its purview, and banks will not be required to offer “plain vanilla” mortgages. As in health care, the question of what the White House will really fight for in financial reform remains open. While the ostentatious daily predators’ ball at Ristorante Tosca is a bad omen, we don’t know yet whether that omen is for the lobbyists, or the Obama administration, or both.

This is history that the president still has the power to write. It will be written in the bills he will or won’t sign into law. We can only hope that he learned an important lesson from his stunning failure to secure Olympic gold for his political home of Chicago last week. If the Olympic committee has the audacity to stand up to a lobbyist as powerful as the president of the United States, then surely the president of the United States can stand up to the powerful interests angling to defeat his promise of reform.

http://www.nytimes.com/2009/10/04/opinion/04rich.html

Finance regulation, real finance regulation, needs to happen.