Extremely good things from Obama's regulatory reform plan: consumer protection and no more OTS

Kudos to Obama I guess. :shrug:

Unfortunately, almost no politician in our political system is willing to accept the fact that we have root problems with our plunder capitalist system that has been allowed to take hold over three decades. Thirty years of plunder exploitation, much of it hard written into law is not going to be undone by slapping some "oversight" back on top.

The problem is that people seem to believe that those who have a hand in causing the problem are going to change. One could replace them all (more like them will take their place) and turn the system on its head, and it wouldn't solve a thing. Here is the root problem: There are laws and oversight. One can write the strictest regulations possible and put the appropriate oversight in place, but none of it will matter if there is no enforcement or accountability. We'll have to see what laws are passed and what mechanisms are put in place to ensure that these are enforceable.

on the books and ways to stop him it is just that no one enforced them.

Oversight and matching enforcement is not the root problem. The root problem is the system itself. Our Friedman-esque free-market corporate capitalist system is faulty in principle, and it leads to these problems of lack of oversight and/or enforcement due to the natural inclination toward corruption by the dominating forces of the financial elite.

Unfortunately, I don't believe plunder capitalism is a sustainable system in the long term. It consumes more than it can sustain, and ultimately it collapses under its own weight. So creating better "enforcement" of new "oversight" might possibly delay the end, but it fix what is fundamentally broken.

Right, that's not a problem in any other system.

It is more of problem in this system, where it is out of any sort of control. If you're arguing that this is the best of all possible systems, then I respectfully disagree with you.

EDIT - because I'm about to be away from the computer for a while, I'll go ahead and say that I would suggest that a system of greater public control of financial markets, with a nationalized fed and government intervention gets me closer to the kind of society that I desire. A system where markets are regulated, perhaps not completely but where the "free" market mystique is not a part of the political culture.

The trouble is, a more socialist structure seems to work mostly in smaller States - where places like Sweden or certain other countries in Europe beat the United States on key indicators that I believe are most important (overall poverty rates, child poverty, elderly poverty, infant mortality, income disparity, worker compensation and benefits, health care). In a place as big as the US, I don't think anyone can predict how an identical system would function.

Still, I believe that socialist democratic political structure is preferable to what we have in the United States.

to come out of Obama's regulatory plans. They want to make the proposed new agency impotent before it starts like the hopefully soon outgoing OTS. I hope Obama stands firm on this and we need to make sure that we support the President in putting this agency forward and making sure it has some teeth and does it's job.