Only the Republican knuckleheads could actually rush into action now that the situation they created is imploding and pulling down everyone. Uh, guys, this game ended a long time ago and all you could do was brag about the homeowner society.
The changes include tougher disclosure requirements for banks and Wall Street firms, a nationwide licensing system for mortgage brokers and new rules for credit rating agencies, which have been widely criticized for failing to recognize major problems with mortgage-backed securities and for having potential conflicts of interest.To hell with excuses like this, let Paulson, Bush and the GOP explain themselves. There were plenty of poor judgments through the entire GOP and that's the plain truth.
“This effort is not about finding excuses or scapegoats,” said Treasury Secretary Henry M. Paulson Jr., who outlined the proposals in a speech here on Thursday morning. “But poor judgment and poor market practices led to mistakes by all participants.”
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