From Seeking Alpha blog, U.S. Economy: Now Comes the Hard Part

Are we going to be better off with the proposed Financial Services Oversight Council that would include the heads of the Treasury, Federal Reserve, Commodity Futures Trading Commission, Federal Deposit Insurance Corp., Securities and Exchange Commission and Federal Housing Finance Agency, and the directors of two new agencies the Obama administration wants to create: the Consumer Financial Protection Agency and the National Bank Supervisor? Are not these the same people asleep at the wheel during every angle of the financial excesses of the past decade? Aren’t these the same people who are bemoaning the lack of credit available to “average Americans and small business” and yet pass a credit card reform bill that began to reduce credit to average Americans and small businesses before the ink even dried?