On a special Thanksgivukkah episode of The DMZ, Bill and Matt discuss this bizarre, once-in-a-lifetime holiday convergence. Bill praises John Kerry for achieving an agreement with Iran and suggests he may be a better Secretary of State than Hillary Clinton. Turning to immigration, they consider how Obama and Boehner responded to pro-reform hecklers. Is immigration reform still a live option? Plus: Matt cautions conservatives not to get carried away about Obamacare‘s troubles.
On The DMZ, Matt discusses his un-DMZ-like appearance on MSNBC, where Michael Eric Dyson accused him of displaying “white privilege.” Does the cable news format make encounters like this inevitable? Bill and Matt discuss the role that racism has played (and continues to play) in American politics, but Matt says liberals can’t keep pointing the finger at racism to explain away their troubles. Have Senate Democrats hurt themselves in the long run by limiting the filibuster? Matt says the “nuclear option” makes repealing Obamacare more likely, but other unintended consequences may occur as well. Plus: Why some liberals fear a Hillary Clinton presidential juggernaut.
On The Glenn Show, Glenn and Ross discuss the recent book by Anat Admati and Martin Hellwig, The Bankers’ New Clothes. Ross says that the government is inadvertently subsidizing bank fragility. Can anything be done about “too big to fail“? They explain the real reason that Wall Street wants to keep equity low and debt high—more money for bank executives and shareholders. Is it unrealistic to think that government could ever rein in the financial system? Glenn and Ross critique Admati and Hellwig on how accurately regulators can assess bank assets. Ross closes by explaining why he’s not optimistic about removing catastrophic risk from the financial system.