MIDDAY BLOG ROUNDUP

On the same day Treasury Secretary Henry Paulson unveiled his plan to overhaul regulation of the financial system, conservative and liberal bloggers are debating what they would do.blackhedd at RedState argues that the best approach is to let the situation work itself out, with some help from the Bush administration using the policies in place. Bailing those out with "dirty hands" will ensure that the same problems will come up again, he claims.Matthew Yglesias agrees with much of what Bill Clinton's former treasury secretary, Lawrence Summers, says; Summers is arguing for the passage of a measure backed by Sen. Chris Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.) that would better protect the public from a financial meltdown. Summers also wants, in general, a broader social safety net for the public, not just financial institutions, Yglesias writes.Chris at AMERICAblog argues that Paulson and the White House must do more than what they're proposing.Michelle Malkin, meanwhile, looks at Hillary Clinton's rhetoric on subprime mortgages, and finds that her campaign manager has contradicted it.FROM THE BLOGS:Politics (and Econ) of Mortgage Relief -- blackhedd, RedState Larry Summers on the Financial Crisis -- Matthew YglesiasBiggest Change Since GOP Helped Create Crisis -- AMERICAblog
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