Friday, April 23, 2010

So Much for the Rule of Law

The Financial Regulatory "Reform" bill puts the White House in the unique position of deciding arbitrarily what to do and when with our largest financial institutions. There are no rules. This is the "Putin regime" transplanted to the US. If Obama doesn't like what Citigroup or Bank of America are doing, he can simply order them to do something else (like hire his brother-in-law). This is "reform," according to the White House.

This means that our largest financial institutions will simply become political arms of the White House. That's pretty much the Putin system.