The Foxes Are Watching the Hen House
Filed Under: Anything Peaceful
Tags: financial crisis • financial markets • regulation
In unveiling his “sweeping overhaul of the financial regulatory system” yesterday, President Obama said, “These proposals reflect intensive consultation with leaders in Congress, including those who are here today: Chairman Dodd and Chairman Frank….”So the latest government scheme to manage the financial markets in response to the recent debacle are two of the chief architects of that debacle.Your government at work.P.S. In case you were wondering, Obama said, “I’ve always been a strong believer in the power of the free market.” Perfectly Orwellian.
Comment by Brian on 18 June 2009:
Great comment.As usual, Mr. Richman is right on the mark. It is particularly galling to see Obama, Dodd and Frank advocating more power for themselves over the financial market which of course will lead to more looting of the market by them.Bastiat said the only way to stop the looting was to make the looting more painful than working for an honest living. The only question is who will inflict the pain on this trio of crooks?