Yesterday....the White House had a meeting with the "big" industry players. Apparently, the White House is thinking about this great idea....recommending that the Federal Reserve become the supercop for "too big to fail" companies. The idea is that the supercop would make sure that a terrible, terrible financial meltdown never occurred again.
I sat there for about thirty seconds....wondering...what the hell does the SEC do, and why a supercop would do a better job than the SEC.
The answer? The supercop would be an administration guy...paid by various 'gifts'....and eventually become a wimpcop....thus accomplishing the same feat as the SEC today.
I like this White House. They spend hours and days....holed up in the mansion...discussing incredible ideas....and then toss out to the media. Thank God, we've got a bunch of dimwits working for CNN and CNBC...and they can't possibly figure the whole scheme out.
Incidentally, if you missed the 1996 Supercop movie...starring Jackie Chan....it was a 4-star Jackie movie. I'm thinking the Obama team were sitting around, drinking some Rum and Coke....and came up with the idea after watching Jackie Chan's movie.