Rick Perry Insists Lack Of Regulation That Helped Cause Economic Collapse Was “Adequate”
Texas Governor Rick Perry has a reputation of being soft on big business, but the top tier Republican presidential candidate may have gone overboard by describing the regulation of Wall Street before the economic collapse as “adequate.”
In an interview with CNBC’s John Harwood, Perry also argues that laws passed to stress strong oversight of business should be scrapped, including provisions enacted after the Enron scandal.
Many believe that deregulation enacted over the last twenty years was a key factor in allowing the wild west mentality that precipitated the mortgage crisis and the resulting near-collapse of the global economy.
Perry himself wrote a letter at the time urging the passage of TARP, more commonly known as the bailout that gave taxpayer money to the deregulated banks. [CNBC]
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