A top economic adviser to the incoming Obama administration unveiled a plan yesterday to radically rethink the global financial system, including measures that would dramatically expand government control over banking and investment in the United States.
Looking more like World Order? Is this what you voted for?
Probably a bad sign. I’ve heard some suggested regulatory changes that make sense, but it was federal meddling in the banking system that caused the financial sector meltdown in the first place, and it is federal meddling that is now making the situation worse. Given the choice between zero regulation and a Barney Frank regime, I choose zero.