PJ Media

To #4 Alex:

Your argument fails due to the fallacy of over-simpilification.

Although you are right that some banking regulations were loosened, you omit the essential fact that the entire US banking system has been the most heavily regulated industry, by far, for decades.

Even the very roots of the system – money supply and interest rates – are monopolistically owned and controlled by the arbitrary dictates of the Federal Reserve.

It is central planning, comrade, not the free market – which is to blame for the wealth-destroying business cycle.

Here is the longest-tenured Chairman of a top 25 US bank – BB&T – explaining the entire crisis with no fallacies or omissions: http://www.aynrand.org/site/PageServer?pagename=reg_ls_financial_crisis