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15 Sep 2008 06:54 pm
As The Banks Fail
Judis:
This kind of crisis places a premium on intelligence and the ability to explain and propose solutions for very complex problems. And it’s a favorable political terrain for Democrats, because the root of the crisis was the lack of government regulation.
There is still nothing on Obama’s website, but he made a statement this
morning that gets to the point: "The challenges facing our financial
system today are more evidence that too many folks in Washington and on
Wall Street weren't minding the store. Eight years of policies that
have shredded consumer protections, loosened oversight and regulation,
and encouraged outsized bonuses to CEOs while ignoring middle-class
Americans have brought us to the most serious financial crisis since
the Great Depression."
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