Belmont Club

By Richard Fernandez

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The Library of Babel

August 18, 2008 - 5:53 pm - by Richard Fernandez
slade
2008-08-19 16:11:37

Fast learners, the business community is not. If you don’t self-police, someone else will do it for you. This alone explains the simply heinous oversight failure of the Anderson accounting firm in the Enron corruption. Sarbanes-Oxley was not born of spontaneous combustion. One of the problems facing the next Congress will be dealing with regulatory failures vis a vis the “economic justice” of the Democrats.

I think it is common knowledge at this point that Obama was running for the experience – and maybe for the VP slot in best scenario. But due to the success of his campaign – and/or failure of the Clinton machine – he’s now going for the whole enchilada, ready or not.

As a voter, I am concerned that he carries the youthful weight of unreconstructed liberalism – hence concepts like “economic justice” and the juvenile marketing blunders with halos and hope and such. If he is as smart as claimed, he will grow out of it. I don’t think he’s there yet, but more importantly, his team of advisers appear entrenched. In my mind, neither Obama nor his team support economic and fiscal policies that will benefit this country in the long term, ease the short-term cycle out of the market slow-down, or increase national security through a strong domestic economy. I hope I am wrong – usually am – but I don’t like what I am hearing.