Obama on the Economy

Today, President-elect Obama promised a new approach to finance--namely, increased regulation.  He said this is "at the center" of his policy, which is encouraging since decreased regulation is largely seen as the major reason for the current crisis.  But he also noted that the economy has "a big problem, and things are going to get worse before it gets better."  He also criticized the current state of Washington's politicians and briefly discussed the necessity of restructuring the auto industry.