The Financial Crisis—Assessing Who's to Blame and SEC's Chris Cox's Role
By Michael Barone, Thomas Jefferson Street blog
Quin Hilyer of The A merican Spectator provides a spirited defense of former SEC Chairman Christopher Cox. With links to opposing arguments. Well worth reading when you're trying to assess who's responsible for the financial crisis.
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notes
notes for cpomareing essay
R.E. Gift of MN
I have absolutely no idea what you're fuming about..."anarchists, illegal aliens, Stalin, Lenin..." Did you forget to take your meds today or are you just a typical Al Franken supporter?
Who do you suppose is responsible for our economic collapse - The Illuminati, Trilateralists, Papists or perhaps the Freemasons?
Oh, gotta run - time to check on my precious bodily fluids and drink some pure rain water.
Assessing blame for the financial crisis.
It looks to me like the only government official who kept calm, steadfastly ensuring that the capital markets continued to function was Chris Cox. The rest of the government from the Treasury Department to the Congress lurched from once crisis fix to another with each "fix" causing unintended consequences. Their very behavior and statements created fear and panic, led to further moral hazard and has resulted in taxpayers being on the on the hook for untold trillions. Now virtually every financial institution in the United States and the world will be managed by the same system that caused the economic meltdown -- the folks who regulated and steered Fannie and Freddie -- government officials who have a political agenda and believe that it is reasonable for taxpayers to subsidize that agenda. It is no wonder the American people have lost confidence in the economy.
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