So let's get this straight. This guy who has never had a real job (except for president), never ran a company (except for the presidency), never made a payroll (including the presidency) is now running the banking system, running the insurance sector, running the auto sector and is not getting ready to look at companies on wallstreet and tell them their stock price is increasing too rapidly and they need to tamp down their growth in value?? Communism anyone?? State Planning??
Obama would regulate new 'bubbles'
By EAMON JAVERS | 4/18/09 6:44 AM EDT
Obama is bracing Americans for a recovery different than any in recent memory.
Photo: Reuters
As he battles the economic downturn, President Barack Obama is bracing Americans for a recovery different than any in recent memory – not a go-go return to prosperity like the 1990s but a slow, steady climb to stability.
“We know that an economy built on reckless speculation, inflated home prices, and maxed-out credit cards does not create lasting wealth. It creates the illusion of prosperity, and it’s endangered us all,” Obama said recently.
But what Obama rarely says about ending the “cycle of bubble and bust” is this: he’s prepared to intervene to make sure that kind of red-hot growth doesn’t occur.
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