Today Naked Capitalism posted the item Did Wall Street Need to Win the Derivatives Budget Fight to Hedge Against Oil Plunge?

Conventional wisdom among banking experts is that Wall Street’s successful fight last week to get a pet provision into the must-pass budget bill (or in political junkies’ shorthand, Cromnibus) as more a demonstration of power and a test for gutting Dodd Frank than a fight that mattered to them. But the provision they got in, which was to undo a portion of Dodd Frank that barred them from having taxpayer-backstopped deposits fund derivative positions, may prove to be more important than it seemed as the collateral damage from the 40% fall in oil prices hits investors and intermediaries.

Three days ago, I posted some comments in the article Shutdown averted following late-night drama.

It would be ironic if within days of the entire government (including President Obama) selling out the country to Wall Street, this whole CLO thing blew up in all our faces.

Every now and then it is nice to see the experts discover the same idea that I already discovered.