Corporate Law

US Financial Crisis Sparks Harsh Criticism of Regulatory Efforts

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As officials in the Bush administration put on a full-court press this week to persuade Congress to enact emergency financial rescue legislation at a price tag that reportedly exceeds the cost of the Iraq war, the situation has sparked a firestorm of criticism concerning regulatory efforts, past and present.

A sampling of the coverage:

American Lawyer (reg. req.): “Bailout Boneheads: Congress Doing More Harm Than Good, Says NY Securities Practice Boss”

CNN (commentary): “Bailouts will lead to rough economic ride”

Garrison Keillor: “Casanova’s campaign for chastity”

Los Angeles Times: “Keating 5 ring a bell?”

London Times (editorial): “Save the world? Hank just didn’t have a clue”

Miami Herald: “Latin leaders criticize U.S. bailout”

Meanwhile, satirists are putting a humorous spin on the situation:

Economists’ Voice (reg. req.): “Dr. StrangeLoan: or How I Learned to Stop Worrying and Love the Financial Collapse”

Oregonian: “For a bailout, press ‘One’ “

Raw Story: “Viral e-mail forward mocks Wall Street bailout”

Updated at 5:30 p.m., central time, to include link to Miami Herald article.

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