I Told You So…

Remember when I said that Blanche Lincoln's strong proposals on derivatives reform were, just for show?

I said the following:

I'm with David Dayen, this all happened within days of her primary challenger, Bill Halter (Reminder, he's on My Act Blue Page) releasing ads saying that she was too close to the banking industry.

Everyone on Capitol hill know that her proposals will never go beyond a press release, and that behind the scenes, she will continue to do the big banks' bidding.

This is just electoral politics, and a full court press from her Congressional Colleagues and the White House.

And sure as the sun rises in the east, and sets in the west, it's happening.

Before the Republicans even got into the room, Democrats are weakening her proposals, with Gillibrand, Casey, and Stabenow taking point.

It's what Glen Greenwald calls, "Villain Rotation".

Basically, when an incumbent needs an electoral boost, they come out with a populist proposal, and then it gets killed by someone else, and when that person needs an electoral boost, they change places.