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Why regulation, but not regulators, is necessary.
Business: July 2009 Archives
Reading the Employment Report: Focus on Hours, Not Heads - Freakonomics Blog - NYTimes.com:
"Any evidence of ‘green shoots’ appearing in recent months disappears in this broader measure. The recession continues apace. If current trends continue, we are in for a frightening time."
(Via Freakonomics Blog.)
Did Liberals Cause the Sub-Prime Crisis? | The American Prospect:
"It's telling that, amid all the recent recriminations, even lenders have not fingered CRA. That's because CRA didn't bring about the reckless lending at the heart of the crisis. Just as sub-prime lending was exploding, CRA was losing force and relevance. And the worst offenders, the independent mortgage companies, were never subject to CRA -- or any federal regulator. Law didn't make them lend. The profit motive did."
(Via The American Prospect.)
