John Boehner gives an interview with the conservative Pittsburgh Tribune-Review and makes the mistake of admitting what he actually believes:
Boehner criticized the financial regulatory overhaul compromise reached last week between House and Senate negotiators as an overreaction to the financial crisis that triggered the recession. The bill would tighten restrictions on lending, create a consumer protection agency with broad oversight power and give the government an orderly way to dissolve the largest financial institutions if they run out of money.
"This is killing an ant with a nuclear weapon," Boehner said. What’s most needed is more transparency and better enforcement by regulators, he said.
Republicans have tried not to admit this, but Boehner pretty much spelled out what they think. The underlying problems in the financial system are minor ("an ant") and the main solution is just to hope regulators do a better job than they did before.
I predict that the Democrats pounce before lunch and Boehner backtracks by early afternoon.