Hans G. Despain has written the commentary in The Worcester T & G titled Mere Maid Service On Wall St.

Hans G. Despain is a professor in the Department of Economics at Nichols College in Dudley.

While I have found that Hans Despain is one of the few local people who are writing knowledgably about the economy, I am also a little curious about the tone of his article.

For anyone trying to figure out whether or not to vote in more Democrats or more Republicans in the fall, this article seems to leave that as an unaddressed issue.  What references he does give to the political struggle leave one wondering just what he does think.

In particular, with his mention of Scott Brown’s election as a catalyst for financial reform, I wonder what Prof. Despain was thinking.  Does he really believe that after struggling to pass health care reform over the obstructionist tactics of the Republicans, that Obama would not have tackled financial reform had it not been for Scott Brown?

Does he think giving more power to the likes of Mitch McConnell and John Boehner would end up with better financial regulation?

Having started reading the book ‘The best way to rob a bank is to own one’ I think that Professor Despain isn’t giving enough credit for our troubles to the out and out fraud committed by many of the ‘risk’ takers on Wall Street.

They didn’t just take risks, they cooked the books, they intimidated internal and outside auditors, and they used political influence and bribes to remove any regulators that were getting too close.

It’s not that President Obama and the Democrats don’t deserve any criticism. However, for one so knowledgeable as Hans Despain to leave the impression that the solution might include voting in more Republicans (who actually favor deregulation and little enforcement) is more than I can comprehend.

It bears repeating what Vice President Joe Biden said in quoting former Boston Mayor Kevin White, “Don’t compare me to the almighty. Compare me to the alternative.”