Updated Monday evening.
Call my cynical, but I just don't trust them to fix anything.
Would be nice if as a country we've learned our lesson by now. Anything the Bush Leaguers want to do is either:
C. Stupid and corrupt.
Furthermore, whatever words they use to describe what they want to do mean their exact opposite.
So when they say they want to overhaul regulations. They mean de-regulate. And their plan for de-regulating will almost certainly fuck things up even more for the rest of us while making their pals even richer.
To my untrained eye, the proposed plans appear to be another power grab by the executive branch. The Bush Leaguers want to take regulatory powers away from the states---particularly states like New York and Massachusetts, which have a habit of expecting businesses to obey the law---and eliminate several federal agencies in order to put more power into the hands of a few political appointees who will owe their jobs to the President.
Almost certainly none of this will get done before Bush leaves office, but the point isn't really to get anything done, not even one of their own plans. The point is to keep Congress and the Media busy arguing over the plan, paint the Democrats as obstructionist do-nothings playing petty partisan politics as the nation suffers, and tout themselves as bold reformers trying to save the economy, while things continue as they are, with whatever's left to be pocketed being pocketed before a new President takes over.
Updated while breaking my arm reaching around to pat myself on the back: Hey, I'm as smart as Paul Krugman!
From his op-ed today:
So, will the administration’s plan succeed? I’m not asking whether it will succeed in preventing future financial crises — that’s not its purpose. The question, instead, is whether it will succeed in confusing the issue sufficiently to stand in the way of real reform.
Actually, neither Krugman nor I needed to be particularly smart to come up with this. All we had to be was alive and paying attention for the last seven years.