If you think that the Bush administration's deregulation policies are to blame then you must be listening to Barack Obama, Henry Waxman and other Demorcrats. But take a closer look... As today's Examiner editorial (Deregulation Myths and the Wizards of Wall Street) demonstrates... It is so much more complicated than that, starting with the money trail from Fannie/ Freddie and Wall Street to their friends in Congress:
Can multi-billion-dollar corporations like AIG and Lehman Brothers collapse and die without anybody having the faintest idea something was wrong? No, of course not. But don't expect Beverly Hills Democrat Henry Waxman and other House Democrats to let facts get in the way of their simplistic narrative pinning the entire blame for the Wall Street economic crisis on the Bush administration's alleged penchant for "deregulation."
Read the entire editorial here.
1 Comment
Suz Schaum | October 9, 2008, 4:31pm | #
'Easy money'is too easy an answer but it is why the problem grew into a crisis. As to regulation, more or less, not even minimal rules were observed. All economies and governments depend on individual conscience. Everyone from the local real estate agent to the high flying banker lost their conscience.