Taking The Bait

by digby

I too wasn’t crazy about the bank tax because it isn’t really all that much money. After all they are on course to award over a hundred billion in bonuses for one year alone) and it doesn’t get to the long term problem of obscene executive compensation and the resultant bad incentives.

But like Atrios,I’m gobsmacked at how quickly the Republicans abandoned their phony populism and jumped to the defense of their rich patrons. This one seemed like an easy one, but you can tell that even the teabaggers just cannot wrap their minds around regulating and taxing the people who drove the economy into the ditch.

Maybe the Democrats will be so inspired that they might actually think it’s a good idea to push through some real reforms since the political benefits are now obvious. Push that button and the Republicans rush to cameras and immediately start defending the indefensible.

Meanwhile, here’s Obama’s Saturday address which is on this subject. It’s pretty good:

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