Lots of Washington, D.C., “pundits” and some association executives are sending out messages and summaries opining on the Dodd/Frank Wall Street Reform and Consumer Protection Act signed by the president last week. Each of these opinions is written more like an op-ed expressing each author’s point of view and particular biases. This blizzard of opinions is the ultimate “spin zone” (O’Reilly is going crazy).
Those messages and summaries that express dark, foreboding predictions of ultimate doom typically are written by those who lobbied on behalf of certain financial services constituencies that did not do so well in the bill. Therefore, someone or something must be blamed (rule one in Washington is that it is never the advocate’s fault). Those messages that express a brighter view are typically issued by those who lobbied on behalf of constituencies that did better than expected in the bill. And so the beat goes on. Is there a “no spin zone” for this bill? Eventually, when the raw emotion and posturing subsides, there will be; and then just plain old boring facts will come out—both good and bad.
In the meantime, I tend to endorse old honest Abe, our 16th president, who made what is to me the ultimate no-spin-zone statement.
“I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts, and beer. ”