Thursday, June 19, 2008

Mortgage Crackdown

MSNBC reports that over 400 people in the mortgage industry have been arrested in connection with the recent subprime meltdown and other financial misdoings. Among those arrested were two executives at Bear Stearns, who were accused of misleading investors as to the health of their company.

Although I hold many libertarian beliefs, I feel the government does need to do a better job of regulating the economy. A lack of oversight since the Clinton years has allowed the financial community to run amok, with the Feds only stepping in to pick up the pieces. Let's hope the next president has the courage to change this.

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