"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Where Were Regulators When Banks Were Failing?
Submitted by Glen Allport on Tue, 2009-06-16 16:00
in
"When ANB Bank of Arkansas failed last year, it was easy to blame executives whose pursuit of high-adrenaline growth led to the bank's demise. But now other key culprits have emerged in ANB's collapse: the government officials who were supposed to be policing the bank." Mal-regulation, not lack of regulation, has been the problem. The regulations have been on the books, but not enforced properly.
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