One mini-saga of the past decade in American politics has been the flirtation—with talk of a deeper partnership—between progressives and libertarians. These two groups were driven together, in the main, by common hostility to huge chunks of the Bush administration's agenda: endless, pointless wars; assaults on civil liberties; cynical vote-buying with federal dollars; and statist panders to the Christian right.

One obvious question when Connecticut Senator Chris Dodd announced his retirement last week was what impact it would have on the effort to reform Wall Street. Dodd is chairman of the Senate Banking Committee, and the bill he wrote last year is the most ambitious regulatory initiative pending in Congress. Anything that changed Dodd’s calculus could have huge implications, which is why I was intrigued by a headline in the following day’s Wall Street Journal proclaiming that, “Dodd's Retirement Muddles Financial Overhaul.”

If you are a critic of the Bush administration, chances are that, at some point over the past six months, Ron Paul has said something that appealed to you. Paul describes himself as a libertarian, but, since his presidential campaign took off earlier this year, the Republican congressman has attracted donations and plaudits from across the ideological spectrum.