Consumers are promised more protection from government

Self-regulation for many industries is over. Democrats promise a new era of regulations on behalf of the consumer. Business groups like the U.S. Chamber of Commerce are bracing for a fight. Some critics are not sure enough policing will happen because some of the new administration picks may be too close to the industries that need change. In the coming months we will watch the financial industries and their government oversight agencies.

A recent Sixty Minutes story states that Wall Street is to blame for the run up on oil prices over the summer. Oil prices rose even though supply was up and demand was down. Wall Street received a huge bailout but has yet to start lending or tell anyone how the money is being used because they received money without conditions. As the Maddoff scandal and investigation continues, Wall Street is again under fire. I hope the Obama administration is up to the task of really implementing the change our financial systems need.