Clarification/Follow-up by labman on 10/27/08 11:16 am:
I do have to agree on the lack of regulation As quasi governmental agencies Fannie and Freddie didn't have to play by the rules banks do, and continued pushing the banks to make dubious loans. We already have more than enough regulations We just need to end allowing the state to evade them.

Clarification/Follow-up by tomder55 on 11/11/08 11:13 am:
The Democrats blocked all attempts at adjusting regulations because they were skimming out of the coffers of the lending institutions.

Clarification/Follow-up by paraclete on 11/11/08 12:18 pm:
What you are saying Tom is that your democracy worked for once and the legislature actually achieved something. Amazing

Clarification/Follow-up by tomder55 on 11/12/08 6:06 pm:
No this policy prededed President Bush. It was initiated by President Carter but grew wings under President Clintoon. President Bush warned that reform was needed as early as 2001 but Democrat congressional delegations successfully blocked any attempt.
What you are saying Tom is that your democracy worked for once and the legislature actually achieved something. Amazing

If that is what you call working then yes and no.. As I said above the Democrats in congress were successful in blocking reform of the system. What this is more of an example of is the unintended consequences of socialist policies.

Clarification/Follow-up by labman on 11/22/08 1:15 am:
Tom, did you see http://www.answerway.com/forumview.php?pgtitle=Political+Issues+%26+Opinions&category=169&parent=6657