Both parties are guilty. We have extreme organized and orchestrated corruption in this country. Both sides are robbing from the people to make the super rich even richer. In 20 years the America that we thoguht we had will be a distant memory.
Obviously both parties have had a role. What I'm trying to figure out is what each of the two presidential candidates have demonstrated in the way of leadership to try to avert the problem before it got to this point. So far, only McCain appears to have made an effort.
Deregulation is a good thing on the whole. Regulations burden businesses with costs and delays that can make them less competitive than their international counterparts and therefore, provide fewer jobs for Americans. The key is for those responsible for oversight to constantly and honestly assess the risks and identify exploitation of loopholes. It is then the responsibility of Congress to take action. Many of you may be too young to relate to the previous strict regulation of the telecommunications industry and airline industries as two examples. Had these industries not been deregulated many of you wouldn't be able to afford cell phones (if they existed at all) or travel by air. Minimal regulations are a good thing, but diligence is necessary to keep the regulations relevant. That didn't happen with Fannie and Freddie. One question is, who wasn't doing their job?
