Tuesday, April 27, 2010

FinReg Is a One More Nail in the Coffin

The Financial Regulation package heading through the Senate will, no doubt, be passed. It is a terrible piece of legislation that virtually guarantees another round of serious financial instability for the United States. In every way, FinReg is misguided. It is punitive in spirit and language, and will have a corrosive effect on the financial standing of Wall Street.

It is interesting that as the Asian economies are headed toward world dominance, the US is busy shooting itself in the foot. This mirrors the pattern that occurred as Western Europe slipped into the mire of war, confusion and fascism that ultimately led to the US assuming world dominance. Asia need only continue doing what they are doing as the US passes law after law that will consign the US economy to the dustbin of history.

2 comments:

A. Barrow said...

The sad fact of the matter is that we are the instrument of our own distruction. Unfortunately, even if the GOP wins the House and Senate, I don't think we'll be that much better off. They had their chance and failed miserably. That's what makes me so angry. I can only hope the GOP has learned something and stick to conservative principles and not try to be Democrat lite. Even then, I'm not sure we can recover from the damage this regime is doing to our country.

narrowbarrow said...

the gop had it's chance under the neocons. now it seems an increasing number of legitimate small government candidates are being given a shot.