Congress to the Rescue

Or... should I say Democrats to the rescue. Apparently Barney Frank (D - Ma.) and Chuck Schumer (D - NY) have voiced their opinion of government and Federal Reserve oversight of private financial institutions to insure that the public is protected... how nice.

Thoughts?

Also a great quote from Treasury Secretary Paulson: “I am not suggesting that more regulation is the answer, or even that more effective regulation can prevent the periods of financial market stress that seem to occur every 5 to 10 years,” Mr. Paulson will say in a speech on Monday, according to a draft. “I am suggesting that we should and can have a structure that is designed for the world we live in, one that is more flexible.”

????

http://www.nytimes.com/2008/03/29/business/29regulate.html?ei=5065&en=7ba12b1b93b17830&ex=1207368000&partner=MYWAY&pagewanted=print

The Conservative Creed - William F. Buckley

“I will not cede more power to the state. I will not willingly cede more power to anyone, not to the state, not to General Motors, not to the CIO. I will hoard my power like a miser, resisting every effort to drain it away from me. I will then use my power, as I see fit. I mean to live my life an obedient man, but obedient to God, subservient to the wisdom of my ancestors; never to the authority of political truths arrived at yesterday at the voting booth. That is a program of sorts, is it not? It is certainly program enough to keep conservatives busy, and Liberals at bay. And the nation free.”

-William F. Buckley 1925-2008