I watched the Newsweek interview with Treasury Secretary Geithner today. There were some interesting comments during the interview. Geithner's comments that the important thing for government to do in a financial crisis was to take immediate, forceful action. That, of course, is exactly what the Bush Administration did last year. Geithner also discussed the need for regulatory reform, and how it needs complete change because there is too much in some areas and none in other areas, etc. Democrats have blamed Bush for the poor regulatory system, but that is unfair because without a crisis there is no political support for change. Bush did, in fact, attempt to get more regulation on Fannie and Freddy for example, but Democrats, and some Republicans, were opposed to more regulation, perhaps because of the huge campaign contributions they were getting. Without a crisis there was no chance for any major regulatory change. Geithner also talked about the need for fiscal responsibility, and said that is why the Obama Administration is going to cut the deficit in half in four years. This is like a bad joke because in four years the deficit will still be twice what it was under Bush's last year.