While Professor Ditherton Wiggleroom distracts with big populist talk, Tim Carney has more on Wiggleroom’s corporatist actions:
In other less-than-populist news, Obama’s billionaire fundraiser and advisor Warren Buffett may get a federal grant of immortality – or at least his finance firm, Berkshire Hathaway, might.
Bloomberg News reported that the Financial Stability Oversight Council – created by the Dodd-Frank financial regulation bill – is considering dubbing Berkshire Hathaway a “Systemically Important Financial Institution.” This designation would bring some added oversight, but it would also, in effect, protect Berkshire from failure by declaring it too big to fail.
Meanwhile, Obama’s party is furiously fighting off Republican efforts to block a bailout of the health insurers who are finding Obamacare’s exchanges to be less of a gold mine than many had expected.
Don’t listen to what’s coming out of his mouth; watch instead where he’s sending your money.