Tuesday, October 14, 2008

FINANCIAL CRISIS: The link that keeps on linking!

Three weeks ago I posted on Fox News' report that the Dems did it (caused the mortgage banking/US economy meltdown); now a Clinton administration fellow, Arthur Levitt, confirms they did.
As the world financial system implodes, Democrats have blamed the Bush administration's lack of regulation for creating the conditions for collapse. But a top Clinton regulator acknowledges that he and his colleagues a decade ago "beat back" regulatory efforts that could have prevented credit markets from becoming so precariously balanced they were “milliseconds” from disaster.

“That was a point in history when perhaps we should have anticipated something like where we are today, at least the possibility,” says Arthur Levitt, chairman of the Securities and Exchange Commission from 1993 to 2001.
Thaz 'nuf for this conservative!

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