Executive Council Statement
Financialization, Financial Market Deregulation and the Credit Crisis
… housing market and the cascading crises in the credit markets are the direct consequence of a 30-year experiment of trying to create a deregulated, low wage economy where high consumer spending is propped up by easy credit and asset bubbles. Real … the economic health of the American middle class through good jobs, health care, retirement security and a voice at work for all. And an important part of the solution must be the thoughtful, comprehensive re-regulation of the financial … loan market, are frozen—the result of speculative excess and a massive loss of confidence in the information available to investors. Only thoughtful re-regulation can restore that confidence and the ability of the markets to properly function. …