Thursday, October 02, 2008

Molly Warned Us

In 1998 Texas firebrand Molly Ivins did her best to warn of the costs of Bill Clinton failing to veto a bad banking deregulation bill. While she is gone, her wisdom was revived last week at the Atlanta J-C:
So what we have here is (1) increasing likelihood of recession dead ahead, (2) banks already looking at serious trouble because of stupid lending policies, and (3) a bill that effectively further deregulates the banks and hurts consumers, making it even more likely that banks will get themselves into serious trouble. And we’re telling other countries how to fix their banking systems?

Veto, veto, veto.

Clinton didn’t veto.

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