The 2,000 page plus financial reform bill that passed the Senate yesterday is too long and too complex for me to have an insta take on what it will actually accomplish-ditto the senators who passed the bill.

 The Washington Post quotes a “teary-eyed” Senator Chris Dodd saying:

“No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

I don’t know about you but I’m getting sick and tired-and just a little bit frightened-of this approach to passing legislation. The market reacted very badly to the bill yesterday, teumbling slightly more than 145 points, and that’s the opinion that matters. I am hoping, but not counting on it, that the market will like it better today, having had some time to digest the latest mischief on Capitol Hill.

 But I’m beginning to think that the motto for the next Congress might be:

 “So much to repeal, so little time.”