Hat tip to my former MBA student, Jason Gould, for pointing out a 3 minute video which was recently posted at http://www.whitehouse.gov/wallstreetreform entitled “What Wall Street Reform Means for You”. Jason characterizes it as “Wall St. Reform for 1st Graders”, noting that “It is simply amazing that this is how they choose to speak to the American public. A 2300 page law explained in a 3 minute video by the White House. Obama and his staffers must be joking…it is embarrassing.”
I completely agree with Jason; this video is simultaneously embarrassing, condescending, and grossly misleading. That’s because this is a political narrative designed to attribute blame to the private sector; as if the public sector was an “innocent” bystander, powerless to do anything other than bail out TBTF institutions. Thank God that we now have a 2,300 page reform bill that will empower the federal government to protect us from ourselves!
Anyway, here’s the video: