Lack of oversight caused the recession

[PLC1]

According to Ben Bernanke, the recession was brought on by lax oversight. Gee, ya think?

Lax Oversight Caused Crisis, Bernanke Says

ATLANTA — Regulatory failure, not low interest rates, was responsible for the housing bubble and subsequent financial crisis of the last decade, Ben S. Bernanke, the Federal Reserve chairman, said in a speech on Sunday.

 

[dogtowner]

Ben is fishing for new powers.

Maybe this is a good idea. He's a little less a political being and its obvious that Congress cannot be trusted.

 

[top gun]

According to Ben Bernanke, the recession was brought on by lax oversight. Gee, ya think?

Lax Oversight Caused Crisis, Bernanke Says

Oversight and regulations are like a Fire Marshal and a firewall.

You have fire inspectors checking for basic problems... combustibles, no smoke alarms things like that. And you have firewalls built into structures that slows a fires progress if one does start.

Somebody can still try to set the building on fire but the fire can't spread nearly as fast and the alarms are going off getting the emergency responders there one hell of a lot quicker.

 

[dogtowner]

Oversight and regulations are like a Fire Marshal and a firewall.

You have fire inspectors checking for basic problems... combustibles, no smoke alarms things like that. And you have firewalls built into structures that slows a fires progress if one does start.

Somebody can still try to set the building on fire but the fire can't spread nearly as fast and the alarms are going off getting the emergency responders there one hell of a lot quicker.

We had firemarshalls (in the house and senate) and firewalls (that were purposely violated by F&F, Franklin Raines being the one driving that bus.

Some information from 2004

And 2008

if the firemarsalls wont/cant do their job, you have problems.

Maybe The Fed Chair is less buyable. At least he doesn't spend major money to get re-elected.