Ok, maybe that's not exactly how they put it but the proposed financial plan by the Obama administration takes the most powerful agency in the government and gives it super-human powers. In short, the new authority will allow the Federal Reserve to "regulate" any company whose failure "could endanger" the U.S. market. So, let's recap. We'll take an agency whose policies have allowed for free market devastation and allow them to hold the entire financial sector in the palm of their hands. Yay! What could possibly go wrong here?
Friday, June 19, 2009
Fed Reserve, "I pee on the free market"
Ok, maybe that's not exactly how they put it but the proposed financial plan by the Obama administration takes the most powerful agency in the government and gives it super-human powers. In short, the new authority will allow the Federal Reserve to "regulate" any company whose failure "could endanger" the U.S. market. So, let's recap. We'll take an agency whose policies have allowed for free market devastation and allow them to hold the entire financial sector in the palm of their hands. Yay! What could possibly go wrong here?
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