One Fateful April Day

Friday, October 03, 2008

Merritt B. Fox, professor at Columbia Law School, talks about this morning's New York Times report about a fateful meeting in April 2004 of the Securities and Exchange Commission - in which debt regulations were significantly relaxed for the big investment banks.


Merritt B. Fox

Comments [2]

gaetano catelli from manhattan

amazing audio clip, Brian.

however, in line with Joe, it seems to me that on balance the (suppposed) regulators are at least as much to blame as the deregulators for this mess.

what seems to be lost in the rush to denounce Reagonomics is that since 1980 the US economy has FAR outpaced those of much-more-regulated Western Europe and Japan.

in 1987, the Nikkei was around 40,000 and the Dow, pre-Black Monday of that year, was around 2200. in spite of everything that's happened, the Dow is still over 10,000, and the Nikkei is just over 11,000.

imo, more overall context is in order.

Oct. 04 2008 01:34 AM
joe from Brooklyn

Why are you waiting until next week to broadcast excerpts from the 2003 hearing in which Administration representatives practically begged for more government oversight on the banks and were shot down, almost vehemently, by Chuck Schumer, Maxine Waters and Barney Frank? These have been playing on several other radio stations for over a week now! (I also see little, if any, mention of them in the New York Times.) Is everyone at NPR waiting until after at least the third debate so that Mr. Obama can avoid, for as long as possible, having to answer some very embarrassing questions about members of his own party? Perhaps not, but inquiring minds want to know.

Oct. 03 2008 11:00 AM

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