The media are covering Washington's latest fiscal crisis basically as a spectacle-the way local news now covers traffic accidents, crime scenes, and big storms.
The Jackson Hole conference attended by many of the world's top economists, central bankers and policy makers revealed divisions over current Fed stimulus policy.
President Obama signed into law today a finance reform bill that he described as "the most sweeping set of changes to America's financial regulatory system since the 1930's."
Government records on campaign contributions shows that GOP Senate Minority Leader Mitch McConnell takes more money from Wall Street than any other sector.
Deputy Treasury Secretary Neil Wolin declared yesterday that "the administration will oppose efforts to provide exemptions for certain kinds of lenders."
As they celebrate their success with health care reform labor and its allies are already focusing on strengthening the financial reform legislation just approved by the Senate Banking Committee.