My earlier point. But you have to admit as a result of unconstitutional interference from the federal government some companies whore themselves out.
I have to admit that I agree with people who say that we've never faced a crisis quite like this one - ever.
In a strange paradox, some of this was brought on by too much regulation and some what brought on by too little regulation or at least not the proper enforcement of regulations that were already on the books. And, contrary to what Rush and Hannity say, everyone's to blame for this mess - Dems and Republicans alike.
I have three thoughts - 1)You can't loan money to people that probably won't be able to pay it back, even in great economic times - 1) You can't let financial firms operate like its the great unexplored frontier and create investment schemes (for lack of a better term) that are so complicated that the people who created them don't even understand how they work. 3) And finally (this is the one that's going to hurt conservatives) - some of the massive consolidation that we've seen in the financial sector the last 25 years has really exacerbated this debacle. We've got fewer banks doing less and less banking - they're selling insurance, equities, futures, commodities, and every damn investment vehicle in between. It's been a gathering storm on the horizon and it finally arrived and we are now going to have to clean-up (if we survive) the resulting flood.