JMK over at his blog has made a very thorough explenation to a question I made in an earlier post.
"At any rate, the irony is that a heavily Liberal, Democratic media, with few people at all versed in economics, reported the credit crisis as a “failure of de-regulation,” when in FACT, it was exactly the reverse!
As a result, we’ve turned toward some of the people most responsible for the current crisis (Barack Obama, Barney Frank and Chris Dodd) for relief from the problem they helped create!
We’re about to embark on MORE regulation, MORE government spending, MORE misguided government intervention and HIGHER taxes, when the credit crisis we’re reeling from was CAUSED BY over-regulation, outrageous government spending, misguided government intervention and the ONLY thing that had helped stabilize the economy previous to 2008 was the INCREASED tax revenues that resulted from those across the board tax cuts!"
Read it all!