or all the wailing one hears, especially in Virginia, about Barack Obama being some kind of radical with a socialist agenda, let’s take a reality check.
- Obama seems to like national security secrets just as “W” and is taking measures to preserve them.
- Obama is as tough, if not tougher, on illegal immigration, as Bush. He’s pushing a national electronic system to verify immigration status immediately and has tightened up borders. The only diference seems to be that Obama goes after employers while Bush went after the workers.
- The meltdown of last year showed that financial services badly needs more regulation not less. Obama is backing away from several campaign initiatives, namely: a Consumer Protection Agency to protect Average Joes from predatory practices. Obama is backing down from putting teeth into the plan. True, business groups like the U.S. Chamber of Commerce are fighting the pro-consumer plan tooth and nail, but none other than Rep. Barney Frank, The Big Liberal, is emasculating the plan. Despite his populism, Frank gets a lot of financing from, you guessed, banks.
- Credit ratings agencies like Standard & Poor’s, Moody’s and others failed miserably at reporting honestly on the derivatives, CDOs and CDSs that so poisoned the financial well last year. An S&P guy said they’d rate cows if asked. But Obama has backed away from tough regulation of these groups.
- Former Fed Chief Paul Volcker is criticizing Obama for building in “too big to fail” guidelines into future bailouts that got Bush’s people so much criticism.
- After the Dems dumped all over the Bushies for “the surge” in Iraq, Obama wants one for Aghanistan although he may be changing his mind.
And so it goes, if you remember that famous song by The Who.
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