Erik Larson

Feb 8, 2010

Dig Up the Martin Act

Let’s see if NY AG Cuomo, of former Fannie and Freddie fame , can ride the populist “we need a boogey man!” sentiment long enough to get something to stick against BoA . He’s starting with the 1921 Martin Act, along with a bunch of charged rhetoric about disclosure and irresponsibility that seems to generate more heat than light on how and why the 2007-8 Credit Crisis happened. Oh well, it’s politics, after all.