President Obama this morning signed into law the most sweeping reforms of the financial industry since the New Deal. In an 18-month stretch that includes a variety of historic achievements, Wall Street reform has to rank pretty high on the accomplishment list.
As for that list of accomplishments, Wall Street reform now joins health care reform, an economy-saving Recovery Act, a long-sought overhaul of the nation’s student-loan system, the Lily Ledbetter Fair Pay Act, the Hate Crimes Prevention Act, new regulation of the credit card industry, new regulation of the tobacco industry, a national service bill, expanded stem-cell research, and the most sweeping land-protection act in 15 years, among other things, on the collection of breakthrough accomplishments of the last 18 months.
Of course, the Republicans will tell you that all these bills that were passed by the majority of both houses of Congress through the regular legislative process as defined by the United States Constitution were rammed down our throats and the only recourse is to do nothing except repeal everything back to the McKinley administration. And Al Gore is fat.