Senator Durbin on John McCain
Assumptions and Approximations

Financial Deregulation and Republicans

Outsourced to Robert Waldmann:

Robert's Stochastic thoughts: Kid Bitzer commenting over at Edge of the West reminds me that it is time to republish this photo:

Robert's Stochastic thoughts

To which the one and only Paul Krugman linked

Actually, there was plenty of coordination — a coordinated effort to destroy effective regulation:

Consider the press conference held on June 3, 2003 — just about the time subprime lending was starting to go wild — to announce a new initiative aimed at reducing the regulatory burden on banks. Representatives of four of the five government agencies responsible for financial supervision used tree shears to attack a stack of paper representing bank regulations. The fifth representative, James Gilleran of the Office of Thrift Supervision, wielded a chainsaw.

The lack of oversight, in short, was no oversight: it was part of the plan.

and that was to the black and white version.