Obama is giving his first press conference of the G20 trip in London right now.
He says he doesn't believe in looking back and assigning blame. The question was - can you assign blame for the crisis - wasn't it a failure of regulation?
He says there weren't adequate regulations but he and Geithner are proposing them now. The fact that he is NOT acknowledging the dismantling in the 90s and 00s of the New Deal and subsequent regulations is confirming my doubts about him. I'm sure he knows about them. Half of the commenters at any blog know about them. This confirms that he is there installing new regulations that only measure risk with a stress test. He is going to let the giant "too-big-to-fail" banking/investment behemoths that brought us to ruin CONTINUE ON. Whether he is being used, is a true believer, or is consciously going along to be one of the elite matters NOT.
What a disappointment!
Establishment neo-liberal crap - Clinton redux.