Inslee and Larsen oppose financial reform

[eridani]

http://www.washblog.com/story/2010/6/17/185931/989


In a tragic and disappointing development, Congressmen Jay Inslee and Rick Larsen have decided to join 43 of their fellow members of the always-tragic, always-disappointing "New Democrat Coalition" in opposing financial reform for Wall Street.

What's a "swaps desk"? Think: "AIG Financial Products" (AIG FP). Remember them? Sure you do. You know, the small division of AIG that sent the world's largest, global insurance company crashing into bankruptcy and nearly brought down the entire financial system? That's right, those guys. If you were tasked with reforming insurance companies would you let them all keep their own versions of AIG FP? No, I thought not.

Senator Cantwell - whom I've criticized MANY times before - is absolutely right in her multiple efforts to reform the financial derivatives industry, and Inslee and Larsen are wrong. So before these worthy Representatives from our state of Washington throw their reputations away on the efforts of a bunch of "New Democrats" and other House members - many of whom just happen to be from the great state of New York (Capital of Bankistan) - let's try and persuade them not to.

[pscot]

1. Larsen doesn't surprise me

but I'm disappointed in Jay Inslee. I've always thought he was one of the good guys.

[eridani]

2. He ususally is. That's why he really needs to hear from his constituents on this. n/t