You have all probably heard what Steinbrueck has said..

Steinbrueck criticized the United States for failing to adequately regulate investment banks and said free-market policies embraced by the United States and Great Britain that emphasized a short-term "insane drive for higher and higher profits" were partly to blame for the crisis.

So what is his solution?

The finance minister said he would push for a global ban on speculative short selling and would use next month’s meeting of the Group of Seven finance ministers and central bankers in Washington to press for new rules that would prevent banks from fully securitizing loans and selling them to third parties.

But here is the irony as per the German news today… And PLEASE any reader who wants to disprove me do it with facts. The banks that are having problems and did the worst trades are… 

…drum roll… 

…banks owned or heavily influenced by the German government…. You would figure that the government who is proposing regulations would have regulated their banks?

I cracked up laughing!!! So when the German news asked Steinbrueck about this he said, "well, ahh, oohh, ummm…" Come on Steinbrueck stop the rhetoric and get back to reality! Oh wait, I forgot it is, do as I say, not as I do!