Obama, ACORN, CRA, Frank, Dodd, Congressional Black Caucus and all the stooges pushing Fannie and Freddie wiped out Wall Street. It was socialsm mixed with incredible moral hazard.
The people devastated on Wall Street or who work at a bank, financial svcs company, etc who vote for Obama are insane.
Very well put Frantzie....
Markets must exist in an environment of trust, we need to know the sausage we buy will not make us sick (FDA) and that markets have men of good will on the other side of the table.
Dodd and Frank had Freddie and Fannie running without being under any of the FDR acts of 33', 34' or 40' (the last one being investment advisory act). You are right, the Moral Hazard taken out via no regulation, and Socialism by forcing banks to take risk they wouldn't if not for the arm twisting from the Feds.