Wednesday, October 01, 2008

At Least A Little

We had a former head of the FDIC tell a group of congressmen yesterday that the Bush administration has been going around the last few weeks, actually, so tightening up on the practices of banks that they’re forcing them to have bigger reserves, which in a way would, you know, kind of create—help to create the kind of tight money policies that we’re saying we’re trying to alleviate with this bill. So, you know, there needs to be a deeper look at this. It seems to me there’s a possibility that this crisis has a little bit of manufacture to it.
- Kucinich

Suspending mark-to-market accounting, in essence, suspends reality.

-Beth Brooke, global vice chair at Ernst & Young LLP, WSJ, Sept 30, 2008

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