Saturday, March 21, 2009

Real Medicine for Financial Products

Today is Saturday, 21 March 2009.

Before medicine can be legally sold in this country, it must be approved by the Food and Drug Administration as effective and safe.

Almost any financial product can be concocted and sold, and regulation comes only after pockets are lined, the product proves toxic, and savings disappear.

Would Americans tolerate the equivalent sales of “medicines”, which could be forcibly withdrawn only after a suitable number of corpses had appeared in evidence?

The Obama regime and Congressional Republicans and Democrats should stop posing for the cameras in mock outrage over executive compensation, and require long and rigorous vetting of all financial products before introduction.

On 11 March, this column asked readers to write Obama and demand that he extend the Temporary Protected Status of Liberian refugees. He has signed an executive order extending this status to 31 March 2010. Note that the last extension signed by W. Bush was for 18 months, not 12. Hmmmm.


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