Osprey probably thinks it is a fresh tactic. Hey, look over there........
But Obama's sweeping indictment of the financial advisory industry sounds like another "us against them" assault on wealth and investment - scaring average savers and investors, while the government puts its hands deeper into their pockets and tightens its control.
And we've traveled this road before.
After the financial crisis, Obama and his Democratic allies in Congress pushed through Dodd-Frank, which papered over the government's role in the meltdown and blamed it all on Wall Street "greed" - a patent, but politically useful, falsehood.
As Peter Wallison, President Reagan's former White House counsel and a member of the financial crisis task force, wrote in "Hidden In Plain Sight": "(Dodd-Frank's) regulatory controls and the uncertainties they engendered helped produce the slowest post-recession U.S. recovery in modern history."
That's Obama's doing. But rather than owning up to this failure, he doubles down on scapegoating Wall Street - knowing full well that the reliably left-wing media will trumpet whatever class-warfare nonsense he spews and treat it as economic gospel.
Put in simple terms, President Obama has presided over an unprecedented regulatory siege that has strangled the economy and discouraged entrepreneurship.
Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials/030215-741567-wall-street-takes-a-beating-as-obama-covers-up-his-own-mistakes.htm#ixzz3TK30CPGe
Follow us: InvestorsBusinessDaily on Facebook
http://news.investors.com/ibd-editorials/030215-741567-wall-street-takes-a-beating-as-obama-covers-up-his-own-mistakes.htm
But Obama's sweeping indictment of the financial advisory industry sounds like another "us against them" assault on wealth and investment - scaring average savers and investors, while the government puts its hands deeper into their pockets and tightens its control.
And we've traveled this road before.
After the financial crisis, Obama and his Democratic allies in Congress pushed through Dodd-Frank, which papered over the government's role in the meltdown and blamed it all on Wall Street "greed" - a patent, but politically useful, falsehood.
As Peter Wallison, President Reagan's former White House counsel and a member of the financial crisis task force, wrote in "Hidden In Plain Sight": "(Dodd-Frank's) regulatory controls and the uncertainties they engendered helped produce the slowest post-recession U.S. recovery in modern history."
That's Obama's doing. But rather than owning up to this failure, he doubles down on scapegoating Wall Street - knowing full well that the reliably left-wing media will trumpet whatever class-warfare nonsense he spews and treat it as economic gospel.
Put in simple terms, President Obama has presided over an unprecedented regulatory siege that has strangled the economy and discouraged entrepreneurship.
Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials/030215-741567-wall-street-takes-a-beating-as-obama-covers-up-his-own-mistakes.htm#ixzz3TK30CPGe
Follow us: InvestorsBusinessDaily on Facebook
http://news.investors.com/ibd-editorials/030215-741567-wall-street-takes-a-beating-as-obama-covers-up-his-own-mistakes.htm
