Mr. Obama, You're Wrong about This One

From the AP this morning:

"We can no longer sustain 21st century markets with 20th century regulation," Obama said after meeting with Treasury Secretary Timothy Geithner and the chairmen and top Republicans of the two House and Senate committees charged with writing new regulatory legislation.

Mr. Obama, that is incorrect. 20th century regulation did just fine to sustain the markets, from the 1930's to the 1980's. What cannot sustain 21st century markets is no regulation at all- the great Republican dream.

Thanks again, Ronnie.

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