On Obama's Big Re-Regulation Speech Today

At the risk of redundancy -- since I sent bursts of opinion on this to my Facebook friends and Twitter followers today as well -- here are a few thoughts I had while listening to Obama's big speech today announcing his intentions to re-regulate the financial industry:

• We'll see how many of his proposals make it through Congress. But one question I have now: how will more regulation lead to less fine-print in mortgages and credit card paperwork? When has more reg ever had that result? Take prescription drugs for instance -- see the magazine ads!
• Mark calendars for 5 and 10 yrs from today (Obama re-regulating financial industry): did this make things better or worse? and for who? and what "unintended", negative side effects will this produce? There always are some from such sweeeping gov. moves.
• Really, Mr President? Really no mention of the biggest cause of the bubble and problems that followed: Fed easy money policy. Nope, no one in DC wants to criticize the Fed. Instead, more power begin given to the Fed! (Sigh...)