Interesting – I don’t know much about Thatcher. Thanks for the article.
It is interesting that anyone can possibly believe lack of regulation is what led to this stupidity. If anything, it was a simple failure to enforce. In fact that was a great YouTube video showing a 2004 C-SPAN broadcast of a congressional meeting in which almost exclusively Democratic congressmen were absolutely grilling these poor housing regulators who were warning that Fannie and Freddie were WAY undercapitalized & etc. They basically accused these guys of (1) trying to foment a crisis of confidence as a pretext to scrapping GSEs altogether, just like “you’ve always wanted to do,” and (2) being motivated by racism.
“You’re racist fanatical ideologues.” God, come up with something new, just to change it up a little guys.
Well, i guess we know who was right now. But anyway no one looking at even one volume of SEC and other financial industry regulations could *possibly* conclude that the industry is under-regulated. That’s just political babytalk for the usual idiots to suck on.
