{"id":10535,"date":"2009-01-05T17:39:28","date_gmt":"2009-01-05T17:39:28","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/a_usa_today_editoriaql_on_the_credit_crisis_a_system_that_invited_bankers_t\/"},"modified":"2009-01-05T17:39:28","modified_gmt":"2009-01-05T17:39:28","slug":"a_usa_today_editoriaql_on_the_credit_crisis_a_system_that_invited_bankers_t","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=10535","title":{"rendered":"A USA Today Editorial on the credit crisis: A system that invited bankers to make bad loans"},"content":{"rendered":"<p>Here&#8217;s a system Willie Sutton would have loved. Under the federal government&#8217;s banking regime, those being regulated \u201d\u201d the banks and savings and loans \u201d\u201d get to pick who regulates them.<\/p>\n<p>That&#8217;s a sweet deal, made even sweeter by this: The two major regulatory agencies get almost all their income from assessments on the very institutions they oversee, so they have an incentive to keep the bankers happy. The largest banks and S&#038;Ls \u201d\u201d including some that engaged in the riskiest behavior \u201d\u201d are big catches for the agency that can hook them.<\/p>\n<p>That&#8217;s not exactly a prescription for strict enforcement.<\/p>\n<p><a href=\"http:\/\/blogs.usatoday.com\/oped\/2009\/01\/a-system-that-i.html#more\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s a system Willie Sutton would have loved. Under the federal government&#8217;s banking regime, those being regulated \u201d\u201d the banks and savings and loans \u201d\u201d get to pick who regulates them. That&#8217;s a sweet deal, made even sweeter by this:<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=10535\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,595,149,114,596],"tags":[],"class_list":["post-10535","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-credit-markets","category-economy","category-law-legal-issues","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10535"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10535\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}