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February 4, 2009
Obama didn't learn about the law of unintended consequences at Harvard
Under pressure from the government and the media, Wells Fargo has announced the cancellation of a conference in Las Vegas for it's nationwide mortgage agents. Bank of America is terminating similar conferences and travel as are almost all large financial and non financial companies under fear of also being singled out by the Obama Administration and it's allies in the media.
This maybe great politics and their mind help the Democrats pass the "stimulus" package by further demonizing business; but as with the nearly all the actions that come out of Washington---the law of unintended consequences will rear it's ugly head. A huge number of Americans (20+ million) are employed in the travel, leisure and hotel industry; will there be a bail-out in the offing as a result and how will that industry recover?