Re: Analysis of the economic crisis
Quote:
Originally Posted by
RandomGuy
These practices were widely known enough by 2004 to be picked up on in the business press. One would be hard pressed to prove that if the accounting reforms had gone through, it would have led to some earth-shaking revelation.
The dems did indeed obstruct the accounting reforms in 2003, and the President and Republicans did a "let's-bring-it-up-right-at-the-end-of the session when we know nothing will really happen" thing, and were right there with it.
I actually remember this bit quite clearly, because we were studying accounting scandals at the time for my advanced audit class.
The president and GOP congress wanted to look like they were doing something, and that is what they succeeded in doing. Look like they were doing something.
Did the president support a review of lending practices at banks at ANY time in the last few years?
There were rumblings as far back as 2004 about this.
And I suppose Democrats wanted to look like they were obstructing...got it.
