While McCain is again reinventing himself (this time in a good way), Joe Lieberman has a better chance of being caught by TMZ cameras doing body shots off of Jane Hamsher at Hawk & Dove than this bill has of being signed into law. Despite Republicans and Democrats telling anyone who will listen that they're opposed to "too big to fail" they haven't demonstrated any willingness to actually do something about it. But sometimes picking a fight you know you're going to lose can be a political winner, as Kevin Drum points out. And with the liberal netroots throwing an epic tantrum over the latest turn in the health care debate, Obama could stand to engender a little good will:
Why not pick a signature issue or two and really hammer away? Make a few fire-breathing speeches about how you agree with Alistair Darling about taxing banks that hand out huge bonuses and will be sending legislation to Congress to make that happen. It'll probably fail, but at least it moves the conversation forward and gets the public engaged. The fact that you fought the good fight won't really hurt you (the nation's bankers obviously don't think much of you already), and far from sinking the whole reform effort, it might actually help keep the rest of the bill(s) from getting watered down even more. A couple million postcards has that effect sometimes.
McCain is providing Obama an opening to sprinkle a little bit of that hopey, changey feeling around that has been missing. Not that he'll bite.