"The Rich are Bulletproof"

So spoke Meredith Whitney, bank analyst of some note this morning on CNBC. As Ms. Whitney described our current economic plight, she marched through one set of new regulations after another that are roadblocks set up to thwart the economic future of middle and lower income Americans, while noting that the rich are unaffected by all of the new Obama Regulatory regime.

Dodd-Frank and the Consumer Protection Agency are open assaults on the American middle class. It has now become much, much harder to get any kind of credit -- be it a mortgage, a home equity loan, a credit card, a pay day loan, whatever. The nanny state has decided that middle and low income Americans should take their business to the loan shark community. We've seen all of this before.

In the name of protecting middle and low income Americans, the Obama Administration has put middle America into an economic straight-jacket. Credit is the life blood of any economy, but by declaring war on those who issue credit to middle America, the Obama Administration is laying waste to the hopes and dreams of the average American.

It is a mistake to blame lenders when folks get in debt over their heads. Let people do whatever they want. People will learn. By declaring war on those who provide credit, American policy is making sure that people who need credit won't be able to get it when they need it.

This is one of the many terrible consequences of our new over-regulated economy.

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