Filibuster Reform Will Help Regulate Wall Street

From Ryan Cooper in the WaPo:

With Democrats on the D.C. Circuit Court, the rules in the Dodd-Frank financial reform bill (both existing and ones yet to be finalized) will have a much greater chance of surviving frivolous court challenges.

The success of financial regulation is crucial to the success of the Democratic Party in the long term, particularly if the party is going to stake out a economically populist position. Filibuster reform may be a key ingredient in making that happen. At stake are the three empty seats on the D.C. Circuit Court. Today, either Republicans will cave and allow new judges to get a vote, or the filibuster reform will allow them to be seated with simple majority vote in the Senate.

While writing good financial laws and regulations is important, any regulations are seriously handicapped by the power imbalance between the regulators on one side, and stupendously profitable financial companies and their loyal judges on the other. Reforming the filibuster is just one step in improving background conditions for regulators, so they are not so outmatched.

By: Alan

Alan Colmes is the publisher of Liberaland.