Keyword: Dangers of Unregulated Bank Activity

Washington Mutual -- World's Biggest Bank Failure! Email Print

Glenn Hendler of New York City, writing in the New York Times Letter to the Editors September 24, had this to say:

"From now on we should view anyone who says he believes in the 'free market' with the same attitude that we reserve for an adult who says he believes in the tooth fairy.

"Any long-term solution to the current situation must abjure 'free market' ideology and acknowledge that our long experiment in loose regulation without serious enforcement has been a failure.

"Only then can Congress evaluate whether a $700 billion bailout will actually help the nation as opposed to simply rescuing Wall Street."

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