Steve Benen actually takes Obama’s “righteous indignation” over AIG at face value.
You know how this is feigned, not real outrage?
Rather than using one of more of the plenty of already existing federal regulatory agencies, Obama, as is seemingly his wont, proposes to create a new agency.
On the narrow issue of AIG bonuses, little Timmy Geithner and sock-puppetmaster Larry Summers killed a simple Senate line item five weeks ago. No new, or even current, regulatory agency was needed.
On the broader issue, you want to regulate banks? Just give the FDIC new powers. Trading of investments? Beef up the SEC (remember that little thing called Glass-Steagall) or other financial institutions.
No new inventions needed.
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