Saturday, April 05, 2008

Why We De-regulated the Banks in the First Place

From Andrew Leonard's archives at How the World Works:

The next time we have a Black Monday... Congress can stand around and wring its hands and give speeches about how awful it is that these bankers violated the spirit of the law, but once again, the money will be gone, the bill will have come due, and taxpayers will again be required to cough it up.
--Stephen Pizzo, in 1995. Why, it is like he saw the future!

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