Not unlike a 9 year-old driving a tractor:
“Regrettably,” Burr said, “many of these laws and regulations have become so burdensome and complex that they are choking our nation's economy, hampering job creation, and drowning our country in debt. I look forward to working with my committee colleagues to address these critical challenges which I believe are among the most important of our time."
Clueless. And dangerous. It was out-of-control deregulation that brought about our financial meltdown in the first place. and now our very own Senator is echoing that idiot Phil Gramm:
Obviously, after setting out a dramatic change in public policy, it is fair to set out a test for determining its success. How will people judge whether we were successful in passing this bill today? My test is, What are we trying to do in the bill? Are we trying to benefit banks or insurance companies or securities companies, or are we trying to benefit consumers and workers? The test that I believe we should use--the test I will use, the test I hope people looking at this bill years in the future will use--is, Did it produce a greater diversity of products and services for American consumers? Were those products better? And did they sell at a lower price? I think if the answer to those three questions is yes, then this bill will have succeeded.
Ultimately, the final judge of the bill is history. Ultimately, as you look at the bill, you have to ask yourself, Will people in the future be trying to repeal it, as we are here today trying to repeal--and hopefully repealing--Glass-Steagall? I think the answer will be no. I think it will be no because we are doing something very different from Glass-Steagall. Glass-Steagall, in the midst of the Great Depression, thought Government was the answer. In this period of economic growth and prosperity, we believe freedom is the answer.
This is a deregulatory bill. I believe that is going to be the wave of the future. Although this bill will be changed many times, and changed dramatically as we expand freedom and opportunity, I do not believe it will be repealed. It sets the foundation for the future, and that will be the test.
And it failed that future, miserably. And just as certain as I am of that, I am certain Richard Burr wasn't even aware of that lesson, much less learned from it. Which scares the bejesus out of me.