I continue to argue that if you are looking for perfect parties, you will remain as jaded and cynical as texting lovebird FBI agents, because parties are people and they fail. What matters to me, and why I support Democrats, is voting record and what each party stands for. Pretty cool image from politicsthatwork.com. Sometimes, you have to pick a side, and I certainly think this is one of those times.

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You can run this exercise on all the issues but I do have some knowledge of banking so I will use that.

You can be for robust regulation of banks but vote against bad bills.  Dodd Frank was a necessary framework that needed some adjustments but if a legislator voted to adjust DF then he is against financial regulation.  You would think that Democrats would be for community banks as they usually have have higher capital ratios, are run by local businesspeople in touch with their community needs and in no way contributed to the financial crisis.

Since DF, community bank formation has ground to a halt (last I looked only 5 De Novos between 2013-2017).  They doubled their loss of market share making the too big to fail banks even bigger.  For the big banks it wasn’t proprietary trading that got them in trouble but exposure to mortgages through sythetic instruments.  However, the Volcker rule kept banks from providing important liquidity to their clients (remember the popularity of repurchase agreements?).

Anyways, voting against one of these items may make more sense then piling on new regulations that don’t improve the situation.