Deep Trouble

clipped from proteinwisdom.com why would the Obama administration say they want to regulate venture capital firms? Some suggest that it may be an end run in the undeclared war on wealth because venture capital can create enormous fortunes outside of taxable income. But there are several other plausible answers. The first is that the Obama administration’s faux pas resulted from a lack of understanding the intricacies of the free market and conflating venture capital with Wall Street, banks and hedge funds. If job-creating venture capital is elusive to our current political leaders surely we are in deep trouble. How then can we trust their judgment on an ambitious restructuring of the national economy, which next targets 15% of U.S. gross domestic product in health care? Obama is either in clearly in over his head, or else he is working to undermine the foundations of the capitalist system from within in order to strengthen the centralized power of the state.