18 Sep, 2008
Wall Street Crisis and Future Regulation
Posted by: dbarnitt In: Financial| Financial Crisis
One of my scarier observations about this week’s events is the politicizing of the financial crisis. Both candidates are doing their fair share of using the disaster to further their own candidacies. There are a large number of reasons for this financial crisis. I for one am not bright enough to boil it down to one simple reason in political sound byte fashion. When this happens and politicians believe that they can fix a very complex problem with lots of new regulation, one thing is for sure – you get more regulation than needed and a lot of it is useless.
One thing is for sure, Paulson seems to be doing a great job of dealing with these extraordinary events. Some of these companies are more important than others and the circumstances surrounding their demise are different. This calls for the need to have a flexible approach to solving these massive problems.