THE BASIS POINT

One Man Wolf Pack Chris Dodd Passes Financial Reform. Does It Just Buy Time Till Market Hangover 2?

For those who don’t truly know what’s going on with financial reform, we offer this simple analogy using beloved movie The Hangover. While the market has been shaking off its post credit boom hangover with a new credit boom (hair of the dog is the best cure, right?), Senator Chris Dodd drafted financial reform legislation to make sure markets don’t forget what caused the hangover. His bill, after being fudged up with hundreds of amendments, passed the Senate today and now it’s onto Obama to become many new laws. Plenty more to come as the unintended consequences of the bill play out in the coming months and years. But for now this is our Hangover tribute to Chris Dodd who, like Alan (played by Zach Galifianakis), is simply trying to bring structure to the chaotic rituals of crazed men.

Below is the ‘One Man Wolf Pack’ speech Alan gives on Caesar’s Palace rooftop before the forgotten period. All you have to do is change “Sin City” to Washington DC, “Doug” to Barney Frank, “you guys” to the rest of the Democrats, “Las Vegas” to America, and “strippers and cocaine” to greedy bankers and fed-up voters. Then darkness falls on Dodd’s day. Cue the cash-soaked angst of Kanye’s Can’t Tell Me Nothing (aka When I Get My Money Right). Media gums flap about toothless reform in mornings to come, yet haggard consumers and lobby-less banks get attacked by the proverbial naked crowbar swinging psychos hidden in the trunks (aka amendments) of this bill. Cheers. Now let the mayhem begin.

“Hello… how bout that ride in? I guess thats why they call it Sin City… ha ha. You guys might not know this but I consider myself a bit of a loner. I tend to think of myself as a one man wolf pack. But when my sister brought Doug home, I knew he was one of my own. And my wolf pack, it grew by one. So there… there was two of us in the wolf pack. I was alone first in the pack and Doug joined in later. And six months ago, when Doug introduced me to you guys I thought “wait a second, could it be?” And now I know for sure, I just added two more guys to my wolf pack. Four of us wolves, running around the desert together in Las Vegas, looking for strippers and cocaine.”

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