Home > Window on Washington > Archives > 2008 > February > 29 > Entry
Okay, you got me there …
The U.S. economy has been growing throughout most of the Bush administration, despite unpredictable shocks, such as the 2001 terrorist attacks, Hurricane Katrina, $100-a-barrel oil and more, National Economic Council Director Keith Hennessey told reporters Friday at a breakfast sponsored by the Christian Science Monitor.
When first asked about the current slowdown, the White House’s economic advisor could not name any policy mistakes that had been made. But when pressed on whether banking regulators might have done more to prevent the sub-prime mortgage mess, he conceded the point.
“Based on what we know now,” lending regulations should have been tougher, he said. “In hindsight, yes.”
Permalink | |
