Monday, September 22, 2008

Collins on the Crisis

Gerald makes a good point. And it's echoed in the Blethen write-up.

Namely: In the midst of the worst financial crisis in 75 years, Collins is resisting calls for more regulation of Wall Street. Instead, she wants "extensive oversight hearings."

But does anyone with a money market account or a 401K doubt that financial institutions need new, more rigorous rules? Does anyone doubt that they're needed fast?

In the midst of a cataclysm, Collins is sticking with the script supplied to her by her big money allies. In other words, the very people who got us into this mess.

But her mogul-friendly posture completely ignores the facts on the ground--to the detriment of taxpayers, retirees and small investors.

She needs to be pounded for it.

(Photo by Willow Lawson.)

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