Of course, the crisis is ALL FUNNY for this man!
Is it me, or does the guy look evil?
Also see: Take Me Out to the Ballgame
"by Associated Press | March 31, 2008
WASHINGTON - In proposing the broadest overhaul of financial oversight since the Great Depression, the Bush administration has kicked off a fierce debate. It pits those eager to revamp an antiquated system against an industry opposed to excessive regulation.
The administration is aware of the hardening lines. The 200-page plan set for release today comes with the financial system in the midst of the most severe credit crisis in two decades.
That crunch has meant billions of dollars of losses for big banks and investment houses. It has caused the near-collapse of the country's fifth largest investment bank, made it harder for consumers and businesses to get loans, and pushed the country to the brink of a recession....
Treasury Secretary Paulson, who has led the effort to rewrite regulations, rejects that criticism. "I do not believe it is fair or accurate to blame our regulatory structure for the current turmoil," according to a draft of a speech he planned to give today outlining the administration's proposals....
"Despite the fact that there will be a temptation to view this through a lens of what is happening now in credit markets, this has been a process that has been going on for a year," said David Nason, Treasury's assistant secretary for domestic finance.
Translation: The government has been PLANNING for this "crisis" all along, and we KNOW WHY!
Treasury began work on the review in early 2007. It came in response to complaints from the financial services industry that US businesses were losing their edge in global competition because of over-regulation by Washington.
Horse shit cover story! Over-regulation!
That's the reason we are in this mess -- there was NO REGULATION at all!
The yearlong review produced a plan calling for the greatest changes in financial regulation since many of the current oversight institutions were created in the 1930s.
Yeah, BEFORE the alleged "crisis" hit!!!
I smell a STINK!!!!!
The Federal Reserve would be a big winner, gaining new powers to serve as the protector of stability for the entire financial system....
And CUI BONO?
House Financial Services Committee chairman Barney Frank, Democrat of Massachusetts, said Paulson's plan was a "very constructive step forward."
"By rejecting the argument for the status quo . . . he has narrowed, albeit by no means removed, the differences between his position and that of many Democrats," Frank said...."
Excuse me, what did the headline say?
"Divisions take shape on financial oversight plan?"
Just ANOTHER MSM LIE, right?!!!!!
