Encouraging fiscal sobriety from the Obama camp

For those of you who might still need convicing that there are real policy differences at stake in the up coming US presidential election, here are some sobering comments from Obama economic adviser and rumored Treasury Secretary short list VIP, Laura Tyson.

“Before we go to the conclusion that the Fed should be the single regulator, I believe personally that there was a significant failure of regulation by the Federal Reserve that was part of this crisis.”

And who does the Beltway think is on McCain’s shortlist to head up the Treasury? Why former Texas senator and current vice chairman for UBS Investment Bank, Phil Gramm, or maybe former HP Chief Executive and current chief economic advisor to the campaign, Carly Fiorina.