Thursday, September 18, 2008
We are all regulators nowFound this at The Big Picture today. If you are finding all of this capital market chaos a bit confusing, read the whole piece. Here, an excerpt:
As we learn this morning via Julie Satow of the NY Sun, special exemptions from the SEC are in large part responsible for the huge build up in financial sector leverage over the past 4 years -- as well as the massive current unwindThis should be bad for McCain, who is "fundamentally a deregulator", don't you think?
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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