Call it democracy in action or utterly corrupt governance; they are the same thing.
He wrote this in regard to the Fannie-Freddie implosion, also known as "last week's news."
Next Monday, in Hartford, I will be arguing against democracy. I think that the direction that the Presidential campaign has taken in the last month has helped my case. We could still see some surprises, but so far it does not appear as if policy issues or governing philosophy are going to be playing a big role in determining the outcome.