To “address” the causes of the financial crisis the Obama administration has proposed thousands of pages of regulations riddled with loopholes designed to keep “business as usual” in the financial services sector. The Republican counter to this is their opposition to any regulation as stifling business and as a way to keep “business as usual”.


I look at the Democrats' tactic as the “baffle them (the public) with bullshit” tactic: draft so many pages of meaningless regulations so that they appear that they want to reign in the excesses of the last decade (even though a single page law re-instituting the Glass-Steagall Act would have done far more).


The Republican's are using the opposite tactic of saying any regulation is bad for the economy (even though it is clear that the repeal of regulations is a major cause of the financial collapse). It is always necessary for the Republicans to use the opposite tactic from the Democrats.


What is obvious is that both sides want the same result. What they are doing is simply for public relations: make the citizens think that the politicians are looking out for us. At the same time they are all well paid off, and have no intention of reigning in their bosses. The result will be another financial meltdown in a few years, with probably far worse outcome. It will take another Great Depression before the politicians are forced to take real action.