What Does Sen. Obama Mean By Common Sense Regulations?

Here's Sen. Obama's statement today about the current economic mess.

Here's an important quote:

"It’s a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises."

As a libertarian Democrat, I accept that some regulation is necessary for our free market. In fact, if we don't act and keep these type of crises from occurring, I believe that the result will be excessive regulation on the free market. That's reality.

So, I want to see what Sen. Obama means by "common-sense regulations".

I'll keep you posted. I understand that this is an important issue for all libertarians.