Reihan Salam imagines the Democrats' doomsday scenario:
There may well be good reasons for Obama’s itchy intervention-finger, but there’s a real danger that we’ll be left with zombie banks, zombie industries, and a zombie economy that limps along, bleeding jobs and growth for years. Think of this as removing a Band-Aid really, really, really slowly.
What happens next?
Honestly, what happens next is even scarier. The Establishmentthe academic and policy elite, Wall Street, famous sexy peopleare more invested in Obama than they’ve been in any president in decades. If Obama fails, a whole system will go down with him. The Republicans will win by default, and they’ll have learned nothing from over a decade of borderline-imbecilic unforced errors.
Trust me, I hope I’m wrong about all of this.