You COULD have started with 'Next' in that article you linked to, but I guess you gagged when you read it. I know I did.

I'd say the more proximate permissiveness, deregulation, is the more proximate cause. Which of the two candidates is promoting more deregulation?

Quote:

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Blameworthy
George W. Bush

From the start, Bush embraced a governing philosophy of deregulation. That trickled down to federal oversight agencies, which in turn eased off on banks and mortgage brokers. Bush did push early on for tighter controls over Fannie Mae and Freddie Mac, but he failed to move Congress.

After the Enron scandal, Bush backed and signed the aggressively regulatory Sarbanes-Oxley Act. But SEC head William Donaldson tried to boost regulation of mutual and hedge funds, he was blocked by Bush's advisers at the White House as well as other powerful Republicans and quit. Plus, let's face it, the meltdown happened on Bush's watch.

See Bush's biggest economic mistakes.

See pictures of Bush.

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