More systemic risk?

Wow, that “systemic risk” phrase has really become popular in the Obama kingdom!

Note the following section from the “Cap and Trade” bill recently passed by the House of Representatives.

“SEC. 360. PRESIDENTIAL REVIEW OF REGULATIONS.
Not later than 24 months after the date of enactment of this Act, the President shall review the offset regulations and derivatives regulations promulgated pursuant to the American Clean Energy and Security Act of 2009.

The President shall determine whether such regulations adequately protect the United States financial system from systemic risk.”

Whatever happened to the King of England? We have a new king now!