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Gas Pains?

Quick, call the attorney general.

10:32 AM, Apr 17, 2012 • By GEOFFREY NORMAN
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According to an AP story, President Obama, who is feeling the pressure on gasoline prices, has a plan for action which comes down to the usual, instinctive reaction of those in political power who find themselves frustrated by events in the real world. Namely ... prosecute somebody. Or threaten to, anyway. Even when that doesn't, typically, accomplish something, it may get you through the next election. As the AP story puts it:

The White House plan, which Obama was to unveil Tuesday, is more likely to draw sharp election-year distinctions with Republicans than have an immediate effect on prices at the pump. The measures seek to boost spending for Wall Street enforcement at a time when congressional Republicans are seeking to limit the reach of federal financial regulations.

The government is "boosting spending." We can all feel better now about $4 – or $5 – gasoline.  

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