Republican workgroup wants government more involved in markets

[RB TexLa]

By JEANNINE AVERSA, AP Economics Writer 1 minute ago

WASHINGTON - Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down.

In a new Bush administration initiative that Paulson said is not about "finding excuses and scapegoats," a presidential working group set up in the wake of the 1987 stock market crash is calling for a series of actions designed to avert the kind of chilling housing and credit crunches that are threatening to throw the nation into recession — if it isn't there already.

"The objective here is to get the balance right — regulation needs to catch up with innovation and help restore investors confidence but not go so far as to create new problems, make our markets less efficient or cut off credit to those who need it," said Paulson, who heads the working group..

One recommendation calls for federal and state regulators to strengthen oversight of mortgage lenders and another urges state financial regulators to implement strong nationwide licensing standards for mortgage brokers, Paulson said.

http://news.yahoo.com/s/ap/20080313/ap_on_bi_ge/credit_crisis

[lifesbeautifulmagic]

1. what, Repubs just figure out they are going to get their asses kicked

on the local, state and national level?

[Javaman]

2. But but but...

I thought the repukes wanted less government in our lives?????

:rofl:

they only want less government when they are making bucket loads of money off the backs of the poor, but god help them if they lose money and have a real threat of being poor, then it's, "get government involved!!!!!"

Stooges.