LaRocco looks to S&L crisis for ideas

Senate candidate Larry LaRocco points to S&L crisis for parallels to current banking crisis. LaRocco suggests forming something like the Resolution Trust Corp. LaRocco: “I believe a similar mechanism can work this time … but it must not be a blank check for the Administration to bail out firms that it deems ‘too big to fail.’ That would punish not only taxpayers, but businesses that have played by the rules.”Risch looks to 1929 and calls for more government regulation. Risch: “Clearly, regulation is way overdue. The best model we have is the type of oversight put in place after the bank crashes of 1929 and the updating of those over the years.”Todd Dvorak, AP in theIdaho Statesman

Welcome to Paleomedia

Follow & Lead