[quote=coxapple]Christopher Cox, chairman of the Securities and Exchange Commission, defended himself, saying that virtually no one had foreseen the meltdown of the mortgage market.
It would be useful / interesting to assemble list of those who did before July 07.[/quote]
I also saw this on C-Span and was amazed at the sheer gall of people like Greenspan, and the former treasury secretary (?) who seemed adamant that they didn’t see this coming, or as Greenspan put it, couldn’t have “predicted” it. Cox was a little more forthright, and pointed the finger at regulations, or lack thereof being the primary cause. So from that, we are to read that they saw it coming, but nobody had the authority to stop it …and of course we all know how hard they tried 🙂 It just seems too many were making too much, and cared too little for the consequences.
