Ever Bipartisan, Bloomberg Jabs Both Candidates
I am reading Sheil Bair's new book. She criticizes the deregulatory ideology that preceded the housing bubble.

She names Alan Greenspan as responsible. Also she names Republican John Dugan who was on the FDIC board and the Fed's Susan Bies as supporting Basel II which lowered capital requirements and made banks more vulnerable. The Europeans (the German and French) were for Basel II also.

As was New York City Mayor Bloomberg and Senator Chuck Schumer. They commissioned a study in January 2007 which surveyed financial CEOs who all said they wanted Basel II.

In 2004, the SEC had allowed investment banks to use Basel II easy capital standards which set the stage for the financial crisis.

I'm only a little of the way into the book. Has Bloomberg admitted his error?