Wednesday, October 03, 2012
A Rather Ho-Hum Debate For Me
I thought Romney missed a big opportunity to hit Obama when Obama defended Dodd-Frank financial regulations as necessary because banks had gotten careless about making loans to people who probably weren't credit worthy. Astonishingly, Romney failed to remind people that it was Obama who played a key role in creating the breach in the financial flood wall back in the 1990s with his landmark lawsuit against Citibank to force banks to provide mortgage loans to people who lacked credit and who pushed Congress to enact the Community Reinvestment Act, which is what actually resulted in so many bad loans being made by banks to people without any credit. The Bush administration tried desperately to force Democrats in Congress to tighten restrictions but got nowhere, facing opposition particularly from Sen. Chris Dodd and Congressman Barney Frank. I couldn't believe that Romney missed the opportunity to zing Obama on that one, particularly since he likes laying the blame for the financial meltdown brought on by the mortgage meltdown largely at President Bush's doorstep. Nonetheless, Romney's strong grasp of the issues tonight compared to the tired and worn look of Obama probably creates a net plus for him as the non-incumbent in the race, which is quite a contrast from what we saw in the debates four years ago between Sen. John McCain and Obama, when Obama easily outshined McCain.
UPDATE: A CNN snap poll after tonight's debate found that 67% thought Romney won compared to 25% who thought Obama won, which is quite remarkable. David Axelrod tells CNN that this was entirely expected. Yeah, right.