Quote:
Originally Posted by Dan.Linehan  |
You were wondering what policies might come into play here... from the article you linked:
Quote:
|
Representative Barney Frank, Democrat of Massachusetts and chairman of the House Financial Services Committee, said Mr. Paulson and Mr. Bernanke had not requested any new legislative authority for the bailout at Tuesday night’s meeting. “The secretary and the chairman of the Fed, two Bush appointees, came down here and said, ‘We’re from the government, we’re here to help them,’ ” Mr. Frank said. “I mean this is one more affirmation that the lack of regulation has caused serious problems. That the private market screwed itself up and they need the government to come help them unscrew it.” |
A question we might ask is, why did the US government allow a single corporation become so large that if it collapsed, it threatened the entire financial system on the planet?