Reply #3: This is what he said:

[jaxx]

<snip> OBAMA: Well, on issues of regulation, I think that back in the ‘60s and ‘70s, a lot of the way we regulated industry was top down command and control. We’re going to tell businesses exactly how to do things.

And I think that the Republican party and people who thought about the margins (ph) came with the notion that you know what, if you simply set some guidelines, some rules and incentives for businesses, let them figure out how they’re going to for example reduce pollution. And a cap and trade system, for example, is a smarter way of doing it, controlling pollution, than dictating every single rule that a company has to abide by, which creates a lot of bureaucracy and red tape and oftentimes is less efficient.


<snip> OBAMA: What I would do is say — what I will do is say we have a new mission. It is my strategic assessment that we have to provide a timetable to the Iraqi government. I want you to tell me how best to execute this new assignment and I am happy to listen to the tactical considerations and any ideas you have.

But what I will not do is continue to let the Iraqi government off the hook and allow them to put our foreign policy on ice while they dither about making decisions about how they are going to cooperate with each other.

Full Transcript: http://elections.foxnews.com/2008/04/27/transcript-obama-on-fns/