Thread: When the next financial crisis hits will Americans complain about too much...

...regulation and bumbling bureaucracy? Currently we don't have enough regulation. Not too long ago there was too much. Why can't we make up our minds.

People shouldn't lump the govt into one, there's actually many levels of govt that provide a lot of funding and services for major projects in the country and this should not get mixed up with political bureaucracy.

I'm not sure what you mean, I think there was over-site in place,, what do you call senators Chris Dodd and Barney Frank? Further more, these fellows knew about this for yrs and didn't enforce crap.

Government is the problem, not the solution.

That is interesting Ward because Mr McCain and Mrs Palin has placed the blame firmly at the feet of Wall Street. Now why would that be if it's the Clinton's fault?

Palin said ""Guys and gals, our regulatory system is outdated and needs a complete overhaul. Washington has ignored this. Washington has been asleep at the switch and ineffective, and management on Wall Street has not run these institutions responsibly and has put companies and markets at risk," Palin said during a rally in Golden, Colorado. "They place their own interests first instead of their employees and the shareholders who actually own these companies."

And more from Mrs P - "“I think the corruption on Wall Street. That’s to blame. And that violation of the public trust. And that contract that should be inherent in corporations who are spending, investing other people’s money, the abuse of that is what has got to stop,” Palin told Fox’s “Hannity & Colmes” according to interview excerpts that will air in full tonight at 9:00 p.m. ET on the network.

“And it’s a matter, too, of some of these CEOs and top management people, and shareholders too not holding that management accountable, being addicted to, we call it, OPM, O-P-M, ‘other people’s money.’”

Palin said Wall Street did not demonstrate the “prudence we expect of them” and like John McCain, called for government to step up its “oversight regime” of the nation’s financial system. "

If the Republicans stay in power it will be just like the hurricanes. The recent ones were handled a lot better than Katrina, but a lot of people still drowned.

Government intervention into the housing market in the 1990's is what has caused this mess.

You can thank Bill Clinton.

Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.

But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street's most revered institutions.

Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.

The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."

The free market works, just not when the government gets their hands in it.