New Financial Regulations

Obama is putting his critics of financial overhaul on notice...he's ready for a fight. While the grab for more power from Washington continues, this quote from Obama I found particularly interesting.

"It will have the power to set tough new rules so that companies compete by offering innovative products that consumers actually want and actually understand," Obama said. "Those ridiculous contracts — pages of fine print that no one can figure out — will be a thing of the past. You'll be able to compare products, with descriptions in plain language, to see what is best for you."

Ummm, has he taken a look at the IRS tax code lately? If you violate your mortgage contract, which stays the same for 30 years, you may lose your house. If you violate the tax code, all 16,000+ pages of it which becomes more complex every year, you may go to jail. Or get a position in Obama's cabinet...