Phil Gramm is unrepentent.
"Mr. Gramm said the problem of predatory loans was not of the banks’ making. Instead, he faulted “predatory borrowers".
"Mr. Gramm, ever the economics professor, disputes his critics’ analysis of the causes of the upheaval. He asserts that swaps, by enabling companies to insure themselves against defaults, have diminished, not increased, the effects of the declining housing markets."
“This is part of this myth of deregulation,” he said in the interview. “By and large, credit-default swaps have distributed the risks. They didn’t create it. The only reason people have focused on them is that some politicians don’t know a credit-default swap from a turnip.”
posted by Xurando
on Nov 17, 2008 -
A nation of outlaws.
A century and a half ago, another fast-growing nation had a reputation for sacrificing standards to its pursuit of profit, and it was the United States.
posted by Kirth Gerson
on Aug 27, 2007 -
One of the left's strongest allies in the war against media conglomeration is... Barry Diller! Weeks after telling
the National Association of Broadcasters that their industry needs "more regulation, not less," Diller speaks to Bill Moyers.
posted by PrinceValium
on Apr 27, 2003 -
Advertising on Your GPS Reciever
It looks like advertisers are already dreaming up new uses for the higher quality GPS signals.
"You're walking down the block, your phone goes off as you pass every store and tells you that there's a 50-percent-off sale."
Someone remind me why it was a good idea to deregulate the GPS?
posted by darainwa
on May 27, 2000 -