Krugman: "And now that the financial clouds have lifted a bit, the pushback against sensible regulation is in full swing. Even the Fed's very modest proposal to curb abusive mortgage lending with new standards is under fire, and there are worrying signs that the Fed may back down." He worries that "As a result, the next crisis will probably be worse than this one."

Previously: "[A]nother round of market mayhem in the not-too-distant future seem[s] almost inevitable."

Previously: "The pushback against sensible regulation will be intense."

Comments

[AlphaOmega]

I know that it's fun to do some Bush bashing in reference to the subprime mortgage/banking crisis...but...maybe...there might be another president that launched this rocket.

Egads! Not Bill Clinton! Read and weep:

http://www.progressivehistorians.com/2007/11/bill-clintons-role-in-mortgage-crisis.html