Stephens Media political columnist John Brummett eyes a brewing controversy that – like health care – may land Sen. Blanche Lincoln on a new hot seat.
The Obama administration’s pursuit of financial regulatory reform in the wake of the derivative markets meltdown in 2008 and 2009, which led to a lot of Wall Street chaos, is next on the President’s agenda.
Lincoln, as head of the Agriculture committee, is looking to protect farming interests that use derivatives in commodities markets.
Brummett cites other examples of how these complicated, often risky financial gambles are used appropriately and not necessarily to the greedy extent that they were in the insurance and housing markets, which contributed greatly to the recession. But public perception may not be sympathetic to practical uses of those products, especially after the excesses are highlighted in the debate for reform.
How might Lincoln handle this next juggling act and what are the political consequences? Lincoln is likely to find herself in the thick of the mix like she was on health care reform. Read Brummett’s insightful take here.
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