Originally Posted by L.A. BRONCOS FAN
There you go proving once again that facts don't matter to the average right-wing ideologue.
Meanwhile, here in the real world...
The WSJ article sums it up best...
In 2005, the Senate Banking Committee, then under Republican control, adopted a strong reform bill, introduced by Republican Sens. Elizabeth Dole, John Sununu and Chuck Hagel, and supported by then chairman Richard Shelby. The bill prohibited the GSEs from holding portfolios, and gave their regulator prudential authority (such as setting capital requirements) roughly equivalent to a bank regulator. In light of the current financial crisis, this bill was probably the most important piece of financial regulation before Congress in 2005 and 2006. All the Republicans on the Committee supported the bill, and all the Democrats voted against it. Mr. McCain endorsed the legislation in a speech on the Senate floor. Mr. Obama, like all other Democrats, remained silent.
Now the Democrats are blaming the financial crisis on "deregulation." This is a canard.
You want to ignore the fact that your Government miracle workers didn't even properly rein in the Government Sponsored Entities they had oversight authority over. Yet you're saying they would've kept everything else in line, if only given limitless power to regulate whatever whenever.