Obama's Too-Big-to-Fail Plan Is Too Dumb to Pass

The administration's financial reform proposal is back in the news after Treasury Secretary Timothy Geithner's testimony on Capitol Hill last week. A closer look at Geithner's proposal and the perspective of Barney Fran's amended plan reveals how inept Obama's economic policy has become.

by Kevin A. Hassett

Treasury Secretary Timothy Geithner's appearance in Congress last week to explain how President Barack Obama would overhaul financial regulation elicited the most striking sign yet that the wheels have come off the administration's economic-policy team.

The White House had proposed, and Geithner was ready to defend, such a radical expansion of government power that even Barney Frank, the ultra-liberal congressman from Massachusetts, felt compelled to object that it went too far.

When Barney Frank thinks that you are too liberal, you better check your medications...

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