Hi - this is the candid conservative with today's candid minute...

Well, it's official.  Barney Frank and Christopher Dodd - two of the creators of the housing bubble - have successfully led the charge on a new financial regulation bill.  Obama has signed the 2,300 page document into law.  We can all sleep better now - right?  Well, maybe not.  Especially when you look at the special interest indulgences found everywhere in the bill.  Fannie MAE and Freddie MAC get a pass and they continue to be terrible offenders of reason, restraint, and our tax dollars.  Most of the provisions simply empower more regulatory bureaucrats.  Then there is the comforting fact that the FDIC was created to stop speculative mortgage frenzies and the  Securities and Exchange Commission to stop guys like Bernie Madoff - whoops.  In reality government has a poor regulatory track record - including policing their own activities.  Regulating for transparency, honesty, and accountability holds possibilities.  Regulating behind the pretense of control is more big government nonsense...

I'm Dr. Carl Mumpower and you've just spent a minute with a candid conservative...

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment Preview