President Barry O, continuing confused on his role wherein he apparently thinks he's president not of a nation but of a corporation that helps other corporations to screw consumers, has decided that with the economy everywhere but Wall Street in free fall and banks foreclosing on homes they don't own, the real problem is...too much govt regulation. (Via Blue Texan at FDL)
In an article published in the opinion pages of The Wall Street Journal, Mr. Obama said he intends to issue an executive order initiating a review to "make sure we avoid excessive, inconsistent and redundant regulation," focusing on rules that "stifle job creation and make our economy less competitive." He also suggested future regulations must do their job "while promoting economic growth."
The move is the latest effort by the White House to repair relations with corporate America, hoping to spur investment by the nation's largest multinationals and reduce unemployment.
I'm sorry? "Repair relations"? He has given them everything they wanted, hasn't he? Um, well, not enough, according to them. See, everything he gave them, like the bogus health care give-away to insurance corpos and pretend banking reform, scares them and that's why they're not creating jobs. OK?
Business leaders say an explosion in new regulations stemming from the president's health-care and financial regulatory overhauls has, along with the sluggish economy, made them reluctant to spend on expanding and hiring. Companies are sitting on nearly $2 trillion in cash and liquid assets, the most since World War II.
Next up, reform of Labor laws, because they make rich people nervous, too, maybe more than regulations. Away with all that claptrap about 40hr weeks and minimum wages. They're making CEO's scared to do any new hiring. And why can't kids work, anyway? There's stuff they could do in the mines and the mills and they'd be contributing a few bucks a week to the dwindling family coffers. These child labor laws just make weak willies, whining about hard work, and that's what's wrong with this whole country.
Barry will see their point, of course. He always does.
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Peter K. Harrell
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Elijah Rising
Obama, take note.
In other words these guys who Mr. Obama had just consulted apparently wanted what Wall Street got, profits from their investments but the government and the rest of us covering their losses. Naturally, Gwen Ifill didn't point out that large profits were supposedly justified by the risks that are taken by investors and that these CEOs were essentially holding the entire economy hostage. Oh well. That's what passes for journalism at PBS NewHour.