>If there was ever any doubt - not that their should be - that Democrats were at least as responsible for the current financial mess as Republicans, this article from the NYT should take care of that. Wall Street's own dedicated Senator, Charles Schumer, did everything he could to forestall regulation. And Wall Street loved him for it!
Schumer, according to this article, often raises the specter that some European capital will take over from NYC as the center of finance if Congress does pass whatever deregulatory measure he's flogging. Was there really such a competition or is this pure bullshit? My impression is that the U.S. was leading that race to the bottom.
Jenny Brown