Basically this article gets it right in so far as the author tells you straight out that we did not have a free market to begin with so it is ridiculous to blame a lack of regulation or to blame a free market.
With socialism you always no where the blame lies being that government owns and controls the market fully.
With free market capitalism you also know where the blame lies being that business owners are responsible for their own decisions.
With fascism though it is never so simple. Fascism leaves supposed ownership still with individual business owners but instead simply intertwines government with business so much that the market starts to operate on political agendas instead of sound free market business principles.
It is already well known and easily proven in any debate that political agendas were being run through the markets that crashed. From the CRA passed in Congress by democrats and then later even strengthened to the brown shirts at ACORN extorting banks and bullying them into following a political agenda to the GSEs (government sponsored entities filled with government cronies who tainted the market with political agendas and corruption.
Who Caused the Financial Crisis?
The fascism of the progressive movement with their accomplishes in the democrat party.
“Congress’ Financial Mess”- Walter Williams
Professor David Henderson, research fellow at Stanford’s Hoover Institution, writes about regulation in “Are We Ailing From Too Much Deregulation?” in Cato Policy Report (November/December 2008). The Federal Register, which lists new regulations, annually averaged 72,844 pages between 1977 and 1980. During the Reagan years, the average fell to 54,335. During the Bush I years, they rose to 59,527, to 71,590 during the Clinton years and rose to a record of 75,526 during the Bush II years. Employees in government regulatory agencies grew from 146,139 in 1980 to 238,351 in 2007, a 63 percent increase. In the banking and finance industries, regulatory spending between 1980 and 2007 almost tripled, rising from $725 million to $2.07 billion. So here’s my question: What are we to make of congressmen, talking heads and news media people who tell us the financial meltdown is a result of deregulation and free markets? Are they ignorant, stupid or venal?
http://townhall.com/columnists/WalterEWilliams/2009/01/14/congress_financial_mess