03/21/2010 05:12 am ET Updated May 25, 2011

Simon Johnson: Democrats Likely To Lose In November Unless They 'Run Hard' Against The Big Banks Now

The theme for the November midterms should be: Which part of the 8 million jobs lost [since December 2007] do you not understand? The big banks must be reined in and forced to break themselves up, or we'll head directly for another such crisis.

Instead, the Democrats have fallen into a legislative and electoral trap that -- amazingly -- they built for themselves.