Quote of the Day

The Wall Street Journal on New York's senior senator making a tidy living by decrying legislation that he voted for:

It was almost easy to forget that Mr. [Charles] Schumer helped enact the 2002 Sarbanes-Oxley financial accounting law when he spent much of the rest of the decade complaining about the stifling burden of financial regulations.

Looking forward, we can expect Mr. Schumer to express at myriad fundraising events his sympathy for those living with the consequences of Dodd-Frank. It's a good bet that he'll also claim that, if not for his valiant efforts on Capitol Hill, the financial reform would have been so much worse. And expect New York's financial elite to keep writing checks.

There's a word for people who keep falling for this: suckers.

"The Schumer Three-Step," June 1, 2011