31 August 2007

Politician speaks the truth!

Barrack Obama, in Wednesday's Financial Times, about the implosion of the US subprime lending industry:

Over the past several years, while predatory lenders were driving low-income families into financial ruin, 10 of the [United States'] largest lenders were spending more than $185 million lobbying Washington to let them get away with it. So if we really want to make sure this never happens again, we need to end the lobbyist-driven politics that made it possible.
(I think he means "make it possible".) On the strength of this, Mr Obama would get my vote.

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