Regulators Mount Up

I was a bit upset after hearing Obama claim the economic crisis was caused by failed policies of this administration. This administration has made plenty of blunders, but giving them credit for the entire economy is a bit much. So when Mankiw posted a reply to Barack I decided to share it with a friend on Facebook. Another friend read the blog and said

See, the problem I have with this is that Mankiw accuses Barack Obama of saying something he didn't say. Nowhere in his comment did he say anything about the Republicans, or call out any Republicans by name. The deregulations began under Clinton and reached a fever pitch under Bush, but Obama never placed blame on either administration in particular.

The problem, is not Mankiw accusing Barack of saying something he didn't (he never says it was republican's but it is still clear, he has since said it was the republicans...repeatedly) but the problem is putting words in Mankiw's mouth. The article had nothing to do with regulation. It was about government, as Sowell pointed out, "createing an incentive for a company to take on risk and enjoy the associated increase in return." I don't know if the problem is due to a lack of understanding or a lack of reading the article. But, it seems most of the country is suffering from the same symptoms. So, as another friend on Facebook said. "Help us Obama-Wan-Kenobi, you're our only hope!"...of having ridiculous regulations that will undoubtably lead to another financial crisis bigger than this one.