Waterloo: Great song, lousy strategy.

Stephen Bates wonders why the heck Republicans would want to derail financial reform. It's the Waterloo approach: Jim DeMint telegraphed their moves last year, claiming that if health care reform went down in flames, it would be Obama's Waterloo. Of course, health care reform did not go down in flames. Now, the GOP has decided to give the Waterloo strategy another shot. At some point, some wingnut welfare recipient will point out that this is completely nuts and will be shown the door.

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