Housing Problem Was TOO MANY Regulators

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	Housing Problem Was TOO MANY Regulators

Victoria Barret

2-23-2009 9:29 PM

411 views

tags:

housing, regulations, regulators, fed

Victoria Barret says:

Former Fed Governor Susan Schmidt Bies takes some blame for our current housing woes. What does she point to as problematic? Not lack of regulation, but TOO MANY regulators.

Note to Obama: the answer isn't more regulators, but accountable ones.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8e4e86c5-0abd-44bc-b0c0-f9a28785798d/C0EBB879-0370-483C-A69F-8902D5D93491/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.calculatedriskblog.com/2009/02/former-fed-governor-feels-accountable.html" href="http://www.calculatedriskblog.com/2009/02/former-fed-governor-feels-accountable.html" style="font-size: 11px;">www.calculatedriskblog.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.calculatedriskblog.com/2009/02/former-fed-governor-feels-accountable.html">"As regulators, we didn't see the whole picture of how poorly the loans were being underwritten, because there's so many regulators in this country. None of us saw the whole picture, and we didn't tighten down enough, fast enough on it," Bies said.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C0EBB879-0370-483C-A69F-8902D5D93491/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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