Scott Sipprelle Wants Government to "Super-Regulate" the Financial Industry

12th District Congressional candidate Scott Sipprelle just issued a press release in which he argues for creating a Government super-regulator of the financial industry:

One Super-Regulator with the Power to Avert Systemic Crisis Proactively
Wall Street financial institutions form an inter-connected web where the failure of any one firm has a ripple effect on the entire system. In a severe financial panic the system is only as strong as its weakest link. Historically, this has presented regulators with a terrible choice if a large firm begins to fail. Either bail the firm out to save the system or let the firm fail and risk an unraveling of confidence in credit that could cause a severe depression, as occurred frequently in the early years of our nation’s history. It is for this reason that our financial markets require a single, vigilant, and powerful form of oversight to replace the dysfunctional form of current regulation.

As if we don't have so many Government bureaucrats meddling with the free markets, now Sipprelle wants a super-beast, a mega-czar to decide which way the financial markets should work.

Can you believe a "Republican" actually used the phrase "One Super-Regulator with the Power"? This guy should be on Obama's economic advisors team!

For some reason, his release makes me paraphrase Lord of the Rings: "One Czar to rule them all, and in the darkness bind them!"