Phil Grahm , John McSame and the sub prime fallout

so they fought the states who tried to fill in the laws that were dismantled by GLB act 1999 when the feds refused to IMPLIMENT the actual rules for banks in the law and you right wing scum continue to pretend none of this is FACTS



what do you think denying facts will get you dupes?
 
here is a thought for you


Not everyone in the country is as pathological as you are.


to far too many people facts means something.



You will never change that


you will shrink until you go all timmy McVeigh on us.
 
evince said:
http://www.nytimes.com/2008/09/27/business/27sec.html?_r=3&oref=slogin&oref=slogin&oref=slogin


S.E.C. Concedes Oversight Flaws Fueled Collapse
Sign In to E-Mail or Save This



By STEPHEN LABATON
Published: September 26, 2008
WASHINGTON — The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.

The S.E.C.’s oversight responsibilities will largely shift to the Federal Reserve, though the commission will continue to oversee the brokerage units of investment banks.

Also Friday, the S.E.C.’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was “fundamentally flawed from the beginning.”

“The last six months have made it abundantly clear that voluntary regulation does not work,” he said in a statement. The program “was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate” of the program, and “weakened its effectiveness,” he added.
Click to expand...

for a minute hey admitted what they did
 
You must log in or register to reply here.
Back
Top