Tuesday, September 23, 2008


The Village Voice (via Cafe Hayek) reports:
Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments.

Sen. McCain suggested that he might replace the head of the Securities and Exchange Commission with a Democrat, suggesting Andrew Cuomo, New York state's attorney general.

"He is somebody who could restore some credibility, lend some bipartisanship to this effort," Sen. McCain said on CBS's "60 Minutes."