Bank Exec Blames Federal Regulators For Fiscal Crisis

Wednesday, November 23, 2011

In the aftermath of the financial crisis, Wall Street executives tried to deflect the blame onto various culprits — government-sponsored enterprises like Fannie May and Freddie Mac for keeping interest rates low, consumers who lied about their credit history, or annual income. But Michael Lewis, former CEO of failed bank IndyMAC, isn't blaming consumers or investors. Lewis, who has been accussed of fraud and misleading investors, is pointing the finger at regulators.

Louise StoryWall Street and financial reporter for The New York Times, wrote about the story for today's paper.

Comments [1]


"It is unlikely the Justice Department would want to test that it is unlikely they would want to go up against the Federal Reserve or the........ because it would be such a nasty political battle."

Who else is being left out of that sentence that the DoJ would not want to go up against and why?
Any journalists wish to commit some journalism and find out?

Nov. 23 2011 08:19 AM

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