Oh, I'll bet he's shaking in his boots much the way Wall Street was when Congress went after them. To restate the obvious, there will be no "hope and change" by Obama or anyone else in Washington. Once again (and again and again) it's all about maintaining the status quo. Whether it's hiring a team of Citi employees to run Treasury, hiring the friends-of-Robert-Rubin to "fix" the economy that they helped create, golfing with shady bank CEOs or appointing Bernanke to a second term it remains crystal clear that Obama is terrified of change.
He continues to embrace "conventional wisdom" and maintaining the business-as-usual approach. I can appreciate that you can't always get your way on everything and need to compromise but the Obama economic approach is sadly anything but change. It's more of the same and that is not what I voted for last year. If anyone can kindly point me to anything that sniffs of important change, please do. Looking at the big issues, it is missing. Obama correctly made the election last year about the economy but since then, it's all about staying the course. And now it's tough talk from Dodd.
"I still have serious concerns about the Federal Reserve's failure to protect consumers and I strongly believe these responsibilities should go to an independent consumer financial protection agency," Dodd said in a statement.
"I expect many serious questions will be raised about the role of the Federal Reserve moving forward, and what authorities it should and should not have."
