CHICAGO – President-elect Barack Obama says the government has been "asleep at the switch" when it comes to overseeing the nation's financial system.He says Americans are "feeling frustrated that there's not a lot of adult supervision."
Asleep at the switch? If only. We're in this mess precisely because of government meddling in the markets. If there was any regulatory failure, it was due to government forcing the markets to accept investments it would otherwise run from. Obama knows this and is just demagoguing the issue with lies to benefit his statist agenda. When he condescendingly calls for "adult supervision", what he's really saying is that he and his army of hall monitors to need bring order to the chaos of freedom. Everything else is secondary.
Obama called for a "shift in ethics" on Wall Street.
He says everyone involved — from CEOs to shareholders to investors — needs to consider not only whether what they're doing will make them money, but also whether it's right, and whether it conforms to "higher standards."
Whose standards might that be and why are they more important than the well being of those whose money is at risk? Obviously Obama means his leftist standards and if you lose your shirt, then tough shit. We're building a utopia don'tcha know.
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