Financial Oversight Reform

Pres. Obama just announced some reformative measures to change the way financial organizations are regulated by the federal government.

For a succinct, excellent explanation of the current economic problem, with particular emphasis on the banking industry, here’s a link to a story done by “This American Life,” by Chicago Public Radio (I heart Ira Glass, btw.) You can listen to the episode (I think that you can maybe download a copy to iTunes) or download the transcript. It’s very entertaining.

My opinion for the masses (or the relative few who read my blog):

Americans are greedy and self-entitled. This is the root of all our current evils. The more self-entitled, greedy, fat, and credit-spendy we become, the more power we relinquish to make decisions for ourselves and society. This is natural consequence of these behaviors. We turn all of our attention to ourselves as our society becomes more individualistic and less socially responsible.

Who’s forced to pickup the ball to make sure we don’t kill ourselves and our future generations?

The Federal and State Governments.

So, if you’re like me and don’t think the government should be extending its powers on a yearly basis, stop being greedy and self-entitled and start thinking about being more fiscally and socially responsible in your own home. In the meantime, thank you, Mr. President, for having to make these hard decisions that I’m sure no one – from the government, to the banks and citizens – is thrilled about.