Ezra Klein: The Clinton Campaign Thinks It Is Playing the Wrong Game
Henry Paulson Begins to Trash His Own Reputation...

Lack of Financial Regulation Was the Principal Aim...

Robert Waldmann quotes Paul Krugman:

Robert Waldmann: Paul Krugman, "Hiding Behind the Invisible Hand":

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 Robert Waldmann finds a picture:

Mozilla Firefox

From the FDIC bulletin.... I know the image is low quality, but it took me a while to find it. For one thing, not only did the American Banker's Association eagerly lobby for the deregulation which seriously threatens American Banking, but their magazine -- community banker -- had an article on the great event which claimed to be illustrated and was missing the digital photograph. No wonder they are going bankrupt.