Apr. 2, Feature - Treasury Secretary Henry Paulson unveiled a plan to restructure the
financial regulatory markets, Hillary Clinton released a vague statement that
says the plan is late and falls short. Neither Barack Obama nor Republican
John McCain released a direct statement on Paulson's plan. The campaigns often
release statements on anything they want to be quoted.
"If you look at the democratic candidates, both Clinton and Obama have somewhat
broken with the emphasis on total deregulation that has dominated American
policy for the past 30 years or so. Obama more or less said the deregulation
legacy is part of Bill Clinton's administration too.."
"Mrs. Clinton on the other hand, is somewhat more
specific. She's talked about regulating investment
banks as though they were commercial banks..
"Now, I have to say neither of these sets of proposals really comes anywhere
near to sort of dealing with the problem. The big problem right now is, who's
going to pay for bail outs. The bail out question has been ducked by both
Clinton and Obama. And of course Sen. McCain... he's been very quiet."
"The issue here is pretty straight forward, the financiers and bankers want
it to be done by us, at our expense. The rest of the population presumably
has an interest in this not happening.
The problem is that Obama and Clinton are huge dependent from cash contributions from financiers." Ferguson says "There is a financial stalemate and a political
stalemate that is intertwined and can not be broken."
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