So implies Obama, in the WSJ where he mandates that foolish regulations will be henceforth banished to the netherworld. Observers are unclear as to whether this includes regulations he has in fact ushered in himself.
Look, dumb and stupid regulations can indeed be burdonsome and inane (as I pointed out recently comparing the difficuly of creating a LLC in California vs. the ease of the process in Utah.) But lax regulation combined with a regulatory apparatus that was primarily preoccupied with power snoozing were the governmental culprits in the subprime meltdown. There was too little regulation, not too much.
Obama’s WSJ piece signals he isn’t interested in even tepid reform or regulation – not that he ever actually was.
The President is chatting up the CEO set on the WSJ op-ed page. There’s note even any code words or in-between the line nudge, nudge wink, winks in these statements. He’s just pandering away.