“collective failure” somthing Obama is very good at.
CEA’s Romer: Reform Can Ease, Not Eliminate, Crisis Risk -CNBC
Last update: 9/14/2009 1:31:52 PM
Regulatory reforms can lessen but not eliminate the risk of a future financial crisis, and President Barack Obama’s administration will press for those changes and an overhaul of the nation’s health care system, a top Obama aide said Monday. Christina Romer, chairman of the Council of Economic Advisers, told CNBC that the administration doesn’t need to abandon either goal and that the president and Congress will have to “double our efforts” to get both done. “You can absolutely lessen the chance of crisis,” Romer said in response to an interviewer’s question. “Of course you can’t ever take away the risk completely, but what you can do is put in place sensible rules of the road.”