As the financial system has more and more weaknesses — I never thought I’d see the day when Fannie Mae and Freddie Mac were deemed risky borrowers — the search for someone to blame has intensified.
Someone, that is, other than the managements of the institutions that left them over-leveraged and under-capitalized for the market that has developed. And of course someone other than the regulators that allowed the managements to take those risks and imposed laughably light capital requirements.
Today — on a Sunday — the Securities and Exchange Commmission put out a news release announcing that it “and other securities regulators will immediately conduct examinations aimed at the prevention of the intentional spread of false information intended to manipulate securities prices.”
See full Article.
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