Monday, February 29, 2016

Foxes in charge of the henhouse

See this article. Some excerpts:

"It is so simple that it is obvious once she [Senator Warren] has pointed it out; and yet most people rarely, if ever, consider the impact of presidential nominations - and of late they have likely done so only because Warren blocked a nominee over their strong ties to the industry they were to police. It's clear, these are the kinds of regulators who don't regulate - and don't prosecute. Warren doesn't put it in such harsh terms, but this is a scathing indictment of the Obama administration. If there were any question about why Obama has not been a Progressive, it is answered here."

"It is true, Obama passed strong Wall Street reform; but under his watch not a single Wall Street CEO has been prosecuted, and regulation has been lax. Do we believe Clinton might also pass strong laws? Maybe so; but Warren has proven that the laws are meaningless if they go unenforced. The real question is, would Clinton nominate strong regulators? If we judge her by Obama - as she has repeatedly insisted we should - we must conclude that she would not. In fact, Warren may just have revealed how those massive donations and speaking fees get repaid: by putting the foxes in charge of the henhouse."

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