In defending his proposal for new, broader regulations that would allow the Treasury to step in and control any company that they deemed “too big to fail,” Treasury Secretary Timothy Geithner said:
the markets have become “too unstable and fragile.” He said, “To address this will require comprehensive reform. Not modest repairs at the margin, but new rules of the game.”
Hmmmm, new rules….
Have you noticed how every time something happens that wasn’t anticipated by this administration, their response is to provide “new rules?”
Have you noticed how the phrase “new rules” does not mean more flexibility but always means more government control and involvement with the industry or company the “new rules” are promulgated on?
Have you noticed that “new rules” by the government never make the industry or company more competitive or run more efficiently?
Has anyone noticed that the industries that led us to this economic difficulty are among those that already have the highest number of rules to follow? Banking, Insurance, Mortgage, Securities; all industries that have government telling them more about how they must operate their businesses than nearly all other industries.
In defending his demand for the termination of GM’s CEO, President Barack Obama said he
has “no intention” of running General Motors.
hmmmm, not running the company……
Have you known anybody able to fire an employee of a company that was not running at least that part of the company?
Have you known anyone able to retroactively dress down individuals and companies for how they use the company’s assets who wasn’t “running the company?”
Have you known anyone able to determine acceptable compensation levels for employees that wasn’t “running the company?”
Have you known anyone able to make a determination to unilaterally terminate company contracts and accept the risk of that termination on behalf of the company, without being someone who runs the company?
Did you notice how just a couple of weeks ago, President Obama was too tired to meet with the Prime Minister of Britain but yesterday, he took on another full time job to run GM?