Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


REGULATORY REFORM….Congress seems likely to pass some version of Henry Paulson’s Wall Street bailout bill. Maybe not precisely his version, but something close, maybe with some oversight added and a few restrictions on exactly how the money can be used. We will, of course, be promised that although the bailout has to be passed this instant and there’s no time to add regulatory reform into the enabling legislation, reform will be taken up just as soon as we’ve all caught our breath. I figure there are three ways this could turn out:

  • Option A: Republicans will filibuster, Democrats will wither, and basically nothing much will get passed at all. In other words, suckered again.

  • Options B: There will be some kind of panic and we’ll end up with a gigantic snarl of regulation that sounds tough but doesn’t really do anyone any good, sort of like Sarbanes-Oxley.

  • Option C: Everyone will take a deep breath, Democrats will stand up to the financial industry, and some reasonable set of new regulations will be hammered into place.

I’d put the odds at about 60% for Option A, 35% for Option B, and 5% for Option C. My only reservation is that maybe I’m being a little too optimistic about all this.

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate