Obama's Regulatory Plan Strengthens Federal Reserve
Posted by Matt Hawes on 06/17/09 6:20 PM
Earlier today, President Obama unveiled his regulatory reform plan, which deals with the economic crisis by creating more rules, regulations, and government agencies to spend money we don't have to implement them. The Federal Reserve, currently taking hits from all sides, receives a substantial increase in powers.
According to The Wall Street Journal's summary of the 85 page plan (which can be read in its entirety here), the proposal includes the following:
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Despite all the promises of change that were so easy to make during the primary season, the Obama administration is practicing business as usual. Like previous administrations, its ideas involve centralizing power among a few under the guise of "streamlining" the process. Instead of achieving accountability, this plan will further empower those who led us to this point.
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