I agree with Schumer. John Reich, shut up. Look at the SEC's attack on short sellers. Instead of setting up the rating agencies for rafts of lawsuits, the SEC attacks short sellers. Chris Cox must live in Wonderland.
The OTS "took a different view". So? If the OTS had done its job, IndyMac (IMB-NYSE) would not have gotten into the shape it was. I'm behind Schumer. How does the WSJ know "rumor-peddlers" brought down Bear? If is does, let it publicly identify them and give Mike Garcia the names. The Bush administration is in "full cover up mode" to protect insolvent financial institutions. On 3 November 2006, IMB was $45.82, on 26 June 2008, $0.80, a 98.3% drop in 20 months. What does the WSJ think caused that? Chuck Schumer?