SEC Chairman Christopher Cox acknowledged that the mortgage meltdown may have started in the United States, but he pointed the finger at other countries for helping create a global economic crisis.

"The meltdown in the markets is simply not an American contagion," he said, speaking at a Financial Executives International Conference in New York. "There are real estate bubbles all over the world. Last year Spain built more houses than Britain, France and Germany combined."

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access