Tuesday, April 01, 2008

Skeptical? Moi?!

In da news ...
Treasury Secretary Henry Paulson revealed sweeping plans on Monday for streamlining a hodgepodge of regulations that are blamed for allowing the U.S. mortgage crisis to balloon into a full-blown economic threat.

The proposals, in the form of a 218-page "blueprint" that was started before markets unraveled in August, offer no quick fix for the credit contraction that threatens to tip the U.S. economy into recession.

Under the proposals, the current patchwork of as many as seven federal regulators would be consolidated under three agencies: the U.S. Federal Reserve, a newly created financial regulator and a third agency for consumer protection and business practices.
Another version of the story describes this plan as the biggest "reform" of the financial system since the great crash of 1929.

I have this sneaking feeling this all has something to do with further getting the average U.S.-type person under the thumb and supervision of Big Brother. But I'm sure that's just my silly paranoia kicking in again ...

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