Pick a standard and apply it equally. That's what you're saying this article is doing?

True on that.  Of course, he's always been like that.  He just receives a lot of support do to his movies and how he became hip... ironically with a largely liberal crowd.

Nah.  It was lack of oversight on the market.

Regulation and Oversight are two different things.

For example if you were a parent and did not want your kid to watch say... House for some reason. (House's abuse of painkillers.)

Regulation would be telling your kid he can't watch TV after 8 and taking the TV from his room.

Oversight would be to watch what your kid was watching on TV to make sure he wasn't doing it.

One is more effective... but one is also much more... and needlessly restrictive.

Banks like Freddie May and Fannie Mac were doing illegal things.  They were lieing and misleading people into loans.  It was even in the reports given to the senate.

Which is why the 2005 bill was started and blocked.

The republicans started the problem by removing the regulation... however the democrats were the ones who removed the oversight, finishing the problem.

Got a link to that 07 bill?  I'm curious if it would actually help.

As for why the democrats liked the regulation and wanted to keep it though.... things like sub prime morgaging became popular helping a lot of people who couldn't afford it own homes... get homes.

I mean, looking back on it.  All those amazing years of unprecedented home ownership under clinton were the first sign of the problem.

Eh, i tried looking it up, guess it was nto a bill. he only supported regulation on the problem then by writing to the fed to say a problem was gonna occur.

The problems may have began under Clinton because of the government's shift in attitude that everyone needed to own a home, but the real problem did not begin under him. When the fed funds and discount rate rose in late 99-early 2001, this would have priced the high-risk (prospective) home owner out of the market. But when the fed funds and discount rate dropped to below 1 percent in late 2001, this encouraged the high-risk prospective home owner to purchase a home. Because the rates did not rise above 3 perent until late 2004/early 2005, the damage had been done...it was only a matter of time.

I wish Americans would stop looking for a scapegoat and find ways to address the issues at hand. Instead all our focus and energy are spent blaming each other. It won't much matter who is to blame when we all live in poverty, filth and squalor.

Which really isn't anything but covering your but incase a problem does occur.

I mean... he was in the government... so he could of proposed something to attempt a change.

I understand how anyone could reach this conclusion but it wrong. The problem happened after this when the mortgage bankers starting rolling together all of these mortgages in securitized packages and selling them as mortgage-back bonds. The way it was rigged all of that bad "B" paper magically became a AAA-Bond. You get what I'm saying?