Ah, how much can change in one year.
Remember how Obama was all about change? How we were going to improve regulation, curb CEO abuse, stop with the unlimited power by the executive and most of all, increase transparency so the government is not corrupted by self-interest?
Well, well. I wonder how the President could explain (once he comes back from his second vacation in Hawaii) this new announcement by the Treasury Department that the government can now exceed the current $400 billion cap on emergency aid to Fannie and Freddie without seeking permission from Congress. Oh wait, this is not all. The announcement came on Christmas Eve, and right after Fannie and Freddie announced approval from their company’s federal regulator to pay $42 million in Wall Street-style compensation packages to 12 top executives for 2009.
I know I predicted Obama would become more and more like Bush as time passes but I was thinking more about the good aspects of Republicans… Next thing you know this guy will start saying nukelar.
One last thing: in his interview with 60 minutes a few weeks ago, Obama said that Wall Street ‘just doesn’t get it‘ when the subject is reform. Well Mr. President, I think they do get it. They get it really well.