So the Dodd-Frank finance reform bill is headed for the House, the Senate, and the President.  Given a Democratic majority in all of those august institutions, the bill’s passage is almost a given.

But what does it do?  Good question.  Let’s ask Mr. Chris Dodd, one of the sponsors of the bill.

no one will know until this is actually in place how it works

(from here.  The original New York Times story has been sanitized since yesterday.)

Well, okay.  Tell me about why this is moving forward, Mr. Dodd.

It took a crisis to bring us to the point where we could actually get this job done.

(still in the Times story above)

So what you’re saying is that instead of responding to a crisis and helping to make sure it doesn’t happen again, that you had something in mind and are just using the crisis as a tool to help you accomplish your goals?

Interesting, Mr. Dodd.  Interesting.  And that “never waste a good crisis” concept sounds a lot like Rahm Emmanuel talking.  I mean, Hillary Clinton.  Errrr, the whole Obama administration.  But surely they’re joking . . .

The link to Hillary Clinton’s name goes to a commentary from Enter Stage Right by Jack Ward.  He closes the piece with this question:

We know that President Obama promised change and we know that a crisis can provide an opportunity for change. The question is, will the crisis be fixed or will Obama exploit the crisis to implement a socialistic agenda?

The question was posed in March of 2009.  At the end of June 2010 we know the answer.