Matt Steinglass referees the financial reform politicking:

If we don't see a deal very soon, it indicates one of three things. First, the Republican concerns may be more substantial than previously reported, in which case someone with more expertise than Mr McConnell needs to explain what they are. Bob Corker, for example, has illuminated some of his party's specific grievances, but even he sounds optimistic. Second, Republicans may still be testing to see whether killing a Democratic bill by painting it as too friendly to Wall Street is a politically viable option. This seems less likely now, as Mr McConnell has toned down his "back to the drawing board" rhetoric. Finally, Republicans may be trying to figure out what sort of face-saving public concession from Democrats would be sufficient for Mr McConnell to cast a bill as a Republican victory over the administration. If that is the case, perhaps Democrats can help them along by offering to publicly growl "Foiled again!" Or whatever it takes.

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