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Is Deregulation To Blame?


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Is deregulation to blame?


by Katherine Mangu-Ward


"You might not be able to tell by looking at it on the page, but

deregulation has become a four-letter word in Washington. In October's

vice presidential debate, Sen. Joe Biden (D-Del.) practically spat it

out: 'If you need any more proof positive of how bad the economic

theories have been, this excessive deregulation, the failure to

oversee what was going on, letting Wall Street run wild, I don't think

you needed any more evidence than what you see now.' Speaker of the

House Nancy Pelosi (D-Calif.) echoed the sentiment in her floor speech

before the first vote on the bailout bill: 'It's really an anything-

goes mentality. No regulation, no supervision, no discipline.' In

reality, regulation as a whole has thrived under President George W.

Bush." (for publication 01/09)



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