“(President) Obama, though, was unable or unwilling to rhetorically underscore the severity of the crisis as it unfolded, so perhaps what should have been seen as successes were seen as failures. “It was a delicate balance throughout 2009 and 2010 to be straight with the American people about the depths of the problem, how close we were to disaster, without scaring the heck out of them,” Obama said.”, Excerpt from Andrew Ross Sorkin’s, The Obama Recovery, The New York Times Magazine, May 1, 2016

“Publicly-traded CEOs and CFO who certified their financial statements and disclosures, especially banks and other financial services firms near the center of the crisis, had to be straight in their securities filings during this period, even if it meant risking a crisis, bank run, and failure….or they got sued by the SEC and others. Why is the private sector held to a higher standard than our government leaders and bureaucrats? That’s wrong. Individuals in government and government institutions should be held to a  higher standard than private citizens and private institutions.”,Mike Perry, former Chairman and CEO, IndyMac Bank

Posted on May 10, 2016, in Postings. Bookmark the permalink. Leave a comment.

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