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July 25, 2006

It's Workers' Paradise, Comrade the American Dream, Stupid!

This woman is really not as leathal as people describe her. She's smart, but still comes across as a rich person wanting to meddle:

Senator Clinton unveiled her 2008 domestic policy platform — er, sorry, the Democratic Leadership Council's "American Dream Initiative"— yesterday in Denver. Though members of the DLC are supposed to be New Democrats, this latest policy gruel is enough to make us wonder just exactly how they differ from the old Democrats.

Faced with a homeownership rate that for every single quarter of the Bush administration has exceeded every single quarter of the Clinton administration, Mrs. Clinton decided to tackle a problem that doesn't exist by creating a vast federal government program to expand homeownership. She proposes expanding the home-mortgage interest deduction to those who don't itemize their taxes, and she proposes $35 billion in new federal spending on "down payment assistance."

Faced with an innovative and dynamic hedge fund industry that is generating vast wealth in her home state of New York, Mrs. Clinton's "American Dream" is to subject it to new government regulation. She calls for "Greater oversight over hedge funds, which tend to encourage a focus on short-term factors rather than the long term; the SEC may need the authority to exercise appropriate oversight over hedge funds to ensure that they account for the needs of longterm investors." Given the nearly $100,000 that Mrs. Clinton made during 10 months of trading cattle futures contracts in 1978 and 1979, we don't doubt her ability to differentiate between short-term and long-term investors.

Do you think that anyone will ask her to finally explain that investment during her campaign?

Posted by Aaron at July 25, 2006 08:24 AM

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