With financial regulation reform the next big thing coming out of Washington, I thought it would be fun to watch that oldie, but goodie — “Wall Street.” Great movie.
Michael Douglas as Wall Street raider Gordon Gekko delivered one of the classic lines of cinema history –“Greed, for the lack of a better word, is good. Greed is right. Greed works.”
Gekko’s doublespeak carried the day in that scene, but by the end of the movie good triumphed over evil.
Will the same be said when the current battle over financial reform ends?
I thought of Gecko the other day as a I watched Senate Minority Leader Mitch McConnell deliver a stunning performance against the financial reform effort which he characterized as just another bailout. The long-time senator from Kentucky is doing his best to keep the his Republican colleagues from working with the Democrats.
Contrast McConnell’s mastery of doublespeak with Sen. Bob Corker’s efforts on financial reform. The first-term Republican senator from Chattanooga is sounding more and more like the GOP’s voice of reason on this critical issue.
Douglas Holtz-Eakin, president of the American Action Forum think tank, and a commissioner of the Financial Crisis Inquiry Commission, had praise for Corker’s willingness to work with Democrats on financial reform in a recent speech at the Howard Baker Center for Public Policy.
It will be interesting to see what sort of finanial reform ultimately passes — if it does.
Meanwhile, enjoy the movies.