Monday, September 14, 2009

Lehman collapse: Barack Obama unveils biggest regulatory overhaul 'since the Depression' - Telegraph

Lehman collapse: Barack Obama unveils biggest regulatory overhaul 'since the Depression' - Telegraph: "President Barack Obama has blamed “reckless behaviour and unchecked excess” at the heart of the financial system for causing the crisis that led to the implosion Lehman Brothers, alleging that too many bankers were “motivated only by the appetite for quick kills and bloated bonuses.”"

But what about Alan Greenspan of the Fed? What about Fannie Mae and all those lenders who were encouraged to lend to the people who could never repay the loans?

Everyone including (or particularly) the politicians and policy makers wre responisble for the mess we see around us. Blaming just one sector of financial services or society is simply passing the buck, those in power are good at covering their tracks.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.