The failure of AIG, Fannie Mae and Freddie Mac was the primary cause of our financial collapse. Those companies employed and paid the politicos millions every year for the past 20 years. Many of these recipients are still in Congress and holding high positions in the current administration. This policy is insane and immoral and should be illegal. These same people are borrowing trillions and creating programs to rectify their incompetent oversight.
Do not be confused by one party throwing the blame on the policies of another party. This was the policy of both parties and was not the result of either “lack of government oversight” or “too much government oversight.”
This was a simple game: I’ll scratch your back if you scratch mine. This is Bernie Madoff on steroids.
This is the time for a third political party! The qualifications are integrity, competence and term limits — two or four years in the House. No professional politicians allowed.
Most likely candidates would be retired people or others who take a sabbatical and look upon this as an opportunity for public service. This group could become the conscience of the Congress.
"do not cast your pearls before the swine lest they turn and rend upon you"
In effect the deregulations just bit us in the @ss.