Sound policy or poll-driven last-ditch cynicism?
It is the private trading of complex instruments that lurk in the financial shadows that worries regulators and Wall Street and that have created stresses in the broader economy. Economic downturns and panics have occurred before, of course. Few, however, have posed such a serious threat to the entire financial system that regulators have responded as if they were confronting a potential epidemic. - New York Times, March 23, 2008
"Over the past week, we've seen unprecedented action to maintain confidence in our credit markets and head off a crisis for Wall Street banks. It's now time for equally aggressive action to help families avoid foreclosure and keep communities across this country from spiraling into recession," Clinton stated. - Los Angeles Times, March 24, 2008Is it just me, or is recession a little less worrisome than the collapse of our financial system? What is she advocating? Unprecedented intervention to prevent a recession, a sort of thing that happens from time to time? Her idea of a long-term policy prescription is whatever will help her in Pennsylvania. So cynical.
Labels: 2008 presidential campaign, Hillary Clinton, If there's a bustle in your hedge fund
posted at 7:17 PM
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