President Obama made that claim again and again about his health-care bill, even though it wasn’t true. When people pointed out it wasn’t true, he accused them of spreading misinformation about his bill.
And his current “reform” is based on yet another unjustified claim:
Increasingly, the consensus is that the current legislation on Capitol Hill won’t prevent another bailout. Bloomberg recently cited one expert giving this assessment:
Today, we get another analysis with a similar conclusion from the WSJ:
But when looking at their sheer size it’s still hard to believe the government would stand idly by.
There was a proposal that would have changed the playing field — breaking up the big banks. I supported this, as did many liberals. Of course, the proposal never had a chance. The irony is that this bill could exacerbate the concentration of wealth in the biggest banks, because regulations tend to crowd out smaller competitors and keep out new entrants. Don’t say this to the President, of course, or he’ll call you names.
