David Dayen of Firedoglake points out how Blanche Lincoln is bragging in Arkansas about “her” derivatives bill without pointing out  its giant loophole that renders it worthless.  I wonder if Bill Clinton will have the nerve to stand up before the people of Arkansas and brag as if Blanche Lincoln has done anything more than try to appear as if she is for Wall Street reform.  Any Democrat, even Bill Clinton, better watch out if they want to side with the likes of Blanch Lincoln.

Blanche Lincoln has done what ALL corporate centrist Democrats do. This is their game: They pass legislation that makes it look like they are really creating reform–like Baucus, with his health care bill; Dodd with this Wall Street reform bill; Lincoln with her derivatives/reform bill–and all these bills contain at least one huge loophole to benefit the rich and Wall Street.  But in the meantime it looks as if they have passed some sweeping populist reform for the people.  These people are nothing but Wall Street shills and liars.

Corporate Centrist Democrats are no different from any Republican.  They both represent Wall Street to the exclusion of the majority of ordinary Americans. The only difference is that the corporate centrist Democrats pretend that they are doing real battle with Wall Street.  The Republicans don’t even bother to pretend.

Blanche Lincoln couldn’t even defend her derivatives bill to the Democratic caucus.  Maria Cantwell had to step in for her and bail her out.

The very night of the primary that Blanche Lincoln ran in he very night of the election, Chris Dodd filed an amendment to cancel out the strongest part of the title, Section 716, which would force the big banks which accept depositor insurance and cheap money from the Fed to spin off their lucrative swaps trading desks so that casino gambling activities aren’t subsidized by taxpayers. When it became clear that Lincoln would head to a runoff, Dodd withdrew his amendment.

These are the kinds of games that corporate centrist Democrats play on the American people.  They are no better than all the Wall Street Republicans.  They lie and leave false impressions.

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Congress and the Obama Administration are now blabbing that they will pass the derivatives bill before July 4.  Well, dur, anywhere near that date will be long after Blanche Lincoln’s June 8 primary runoff with Bill Halter.

Everyone know that Sec 716 will get stripped out of the bill in conference.  Dodd knows what he is doing.

WATCH THE LATEST LYING POLITICAL ADVERTISEMENT PUT OUT BY BLANCHE LINCOLN. Then get mad as hell and send a few dollars to the Bill Halter campaign to defeat this Wall Street hypocrite.

Proclaim the Queen!

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