Football and Financial Reform

Financial reform is still stalled in the Senate.  On Monday and Tuesday of this week, all of the Republican Senators and one Democrat voted to block any debate on financial reform legislation. Without 60 votes, the clock is stopped, we are stuck. While another procedural vote is scheduled for Wednesday, April 28, this could be stuck for awhile.

After the American taxpayers committed trillions of dollars to rescue the financial system, after there is consensus on many of the problems that need to be addressed, after the House passed a reform bill, after the Senate banking committee has produced a solid bill and other Senators have strengthening amendments ready, the Republicans are digging in their heels. The only way to get to 60 is to get at least one Republican to vote yes to begin an open debate on the Senate floor on financial reform.

There may be hope, though. News hit on Tuesday evening that Republican Senator George Voinovich of Ohio might vote yes, to start the debate. Immediately I was reminded of a football game from my childhood.

September 1979. Home game Michigan vs. Indiana. Fourth quarter, five seconds on the clock, score tied 21-21.  Michigan has the ball near mid-field. No overtime available in College Football then. The stadium at capacity held over 100,000 fans but the crowd had thinned. Not my family. We were Winston Churchill-type fans. Never give in. Never give in, never, never, never.

The play began. Michigan’s quarterback dropped back and threw a gorgeous pass down the field. It was the longest pass I’d ever seen. The ball soared through the air and then landed in the ready arms of wide receiver, Anthony Carter who then dodged the defense and ran it to the end zone.  The legendary radio announcer screamed, “Oh my God - Carter's in the end zone...Look at the crowd! You cannot believe it! Michigan throws a 45-yard touchdown pass . . . Johnny Wangler to Anthony Carter will be heard until another 100 years of Michigan football is played!"  It was electrifying.

It is surprising I remember any of this as I’m not a sports fan. But where I grew up, Michigan football was not a sport, it was religion. As early as preschool, I went there every home Saturday (and not synagogue). The thing is, until I looked it up on the internet to refresh my memory, the only name I remembered from that game was Anthony Carter. It wasn’t the quarterback, but Carter whose name I remember after 30 years. While throwing that long pass that soared through the air took incredible skill, it was catching the ball and running with it that won the game.

So what’s my point?  The game is tied between Main Street and Wall Street and the clock is running out.  My point is that the ball is in the air. That long, beautifully thrown pass is a piece of legislation that contains many promising provisions. We are that crowd, that energized crowd. I’m hoping for the decisive Senators to catch that ball. I’m hoping that the defensive line does not block. And, I’m dreaming that 30 years from now that I will look back having forgotten all of the details, but the name or names of those critical Senators who led us to victory. I think one of those names I’ll remember will be George Voinovich. Only time will tell.