Obama and the G-20

Other than the humiliation of having a German chancellor feel it necessary to lecture the United States on the need to reduce deficits and forgo useless stimulus spending, I was encouraged by President Obama’s first appearance on the world stage this week. (As a side note, however, giving the queen of England an iPod was … let’s just say gauche.)
Despite scoring points on fiscal responsibility (European leaders have learned through experience that socialism doesn’t work), Germany and France looked foolish by insisting on a new world body to regulate global finance. Not only was this a transparent attempt to emasculate the world’s economic giant, it gave Obama a chance to look tough and, dare I say it, conservative.
At least, it got this quote out of him: “In America at least, people don’t resent the rich; they want to be rich. And that’s good.”
Funny, I never heard that one from him during the campaign.
The loans and guarantees the nation’s promised to provide through the IMF seem harmless. Your thoughts?