Friday, January 22, 2010

Elections work

What a difference an electoral defeat makes. No sooner has the dust settled over Martha Coakley's shock defeat in Massachusetts, then Obama decides to sock it to the bankers. The President may have been mulling over this decision for a while, but it's striking that the announcement - which appears to mark a significant shift away from the softly softly approach to finance adopted until now - comes just a couple of days after an electoral humiliation.

Maybe democracy works after all.