CNN Politics.com
From CNN’s Jack Cafferty:
June 16, 2009
President Obama wants to create another federal bureaucracy. This one would be a financial watchdog agency whose mission will be to protect consumers from deceptive or dangerous mortgages, credit cards and other financial products.
Supporters are calling it a “financial products safety commission” and compare it to the federal agency that oversees safety of toys and other products. The banking industry is not a fan of this idea, with critics saying it’s bad for consumers and there are already several regulatory agencies that do this….
Are we looking at nostalgia for a just ended(neocon) administrative nightmare?
America’s economy just escaped a “near death” experience but now glimmers of recovery seem to be at work. It is quite unlikely that recovery will be a pain-free operation. It is quite unlikely that America will get out of the “near death” experience – FREE.
The pain of recovery was not “advertised” by the neocons. As far as the neocon administration was concerned, it appeared that the “near death” condition of America’s economy was not painful and not a talking point.
It is way-too-soon to be thinking about returning to the lassie faire “management” style of the outgoing neocons. The outgoing neocons handled “Reaganomics”, called VOODOO economics by some, the same way they handled many of their other management responsibilities – with far less than the required skills. Where is there an example on file of any successful application of Reaganomics?
It is not “less government” that America now needs. Less government got America into its current near death economic experience. Less government might have been great for salaries and other amenities of high ranking business managers, but a continuous “sucking of America’s financial blood” will, sooner or later, cause the “host’s blood supply” to become depleted – resulting in a possible near death experience.
We have heard and read stories of even fifth graders being impacted negatively by America’s current GREAT RECESSION. But it seems that the adult neocons are still in LA LA land. You can count, on no more than two or three fingers of the RIGHT hand, those HIGH RANKING neocons who spoke the word “recession”. And you could start your count at the top of America’s neocon political leadership.
Guiding America’s “ship of state” is the responsibility of the American Government – not American business – and especially not America’s financial community. A political policy that gives free rein to any of America’s segments is likely doomed to failure. Non politically elected folks are “me first” not “government first”. There is no shortage of unlimited GREED in America.
America could not afford the “business friendly”, lassie faire environment of the neocons. And it showed.
So, when government “looked away” did “somebody play”?:
Humbled Goldman CEO Offers Pay, Regulatory Reforms
Goldman Sachs CEO Blankfein: Bank Decisions Look ‘Self-Serving and Greedy’ in Hindsight
By Karey Wutkowski
April 7, 2009WASHINGTON (Reuters) – The chief executive of Goldman Sachs called on Tuesday for reforms to executive pay and a broadening of financial regulation in a contrite speech that was twice interrupted by protesters.
Lloyd Blankfein, whose firm has taken $10 billion in taxpayer funds, said the economic crisis had been “deeply humbling” for financial firms, and banks receiving taxpayer bailout money need to pay back the funds as soon as possible. …
The economy is now beginning to show signs of improvement. But it is too soon for the neocon management style to be “out of sight and out of mind”. It is too soon to be longing to return to what got America into its current economic nightmare.
Before you answer the author’s question, “ Is Government too Involved in our Lives under Pres. Obama?”, venture over to CBS’s 60 minutes to hear whistleblower Harry Markopolos comment on Bernie Madoff and the SEC. If you can either hear or see the whole program and you still believe the author’s question is “fitting and proper” at this time, then one should be able to see why America was able to be “guided” into its current financial disaster.
You can visit CBS’s 60 minutes at the below link.
http://www.cbsnews.com/video/watch/?id=4834812n&tag=contentMain;contentBody
America’s ombudsman’s spirit still runs deep within the American population. Most of the Americans who stand under the HIGH CANOPY of the Bell Curve supports America and its Constitution. It is unlikely that the majority of Americans feel that the United States Constitution is an [ EXPLETIVE DELETED] piece of paper.
