Category: Gulf Oil Crisis

The Case Against Financial Institutions Regulation (and other sundry items)

The news events of the last few months have certainly put the Obama Administration in a peculiar position.  The Gulf crisis notwithstanding, most of these events have been created by this president and his staff.

Team Obama went the the G20 Summit in Toronto this weekend to chide the other 19 nations to continue to stimulate their economy through Keynsian economic principles.  “Not so fast”, said the other countries.  “We have to make choices, and right now, we choose fiscal solvency and prudence”.  What a concept!

Passage of the Financial Institutions Reform package was always tenuous, at best, but the death of Senator Robert Byrd over the weekend makes passage more difficult.  One less Democratic vote means that it’s more likely that Republicans can filibuster …

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