Why is it that Congress and Democrats think MORE government rules and regulations HELP? Case in point recent economic slowdown can place it's beginning in 1977 when Community Reinvestment Act (CRA), was enacted by Jimmy Carter & Democrat Congress . Then 1995.. 1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties! Citibank settled out of court but this laid the premise for banks to make sub-prime loans. So now the banks had a problem. Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status. On one hand courts ordering bad loans and other hand loans were violating FDIC rules! Enter Credit Default Swaps... Credit default swaps have existed since the early 1990s, and increased in use after 2003. By the end of 2007, the outstanding CDS amount was $62.2 trillion, falling to $26.3 trillion by mid-year 2010 but reportedly $25.5 trillion in early 2012.[ Using CDswaps banks could unload the sub-prime loans by having Fannie/Freddie securitizing them as explained in this statement: Oct. 23,2008 (Bloomberg) -- Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the "full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.'' Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg "Effectively guarantee of the U.S. government"!!!! So everything is OK as long as housing grows... but it didn't! NO one in 1977 or 1995 or 1990s ever thought that $8 trillion would be losses in 6 years. No one envisioned the dot.com bust would cost $5 trillion in market losses -- writeoffs against taxes! No one ever considered airplanes flying into buildings costing $2 trillion... writeoffs against taxes! Not one person could ever envision the WORST HURRICANE SEASONSS!!! in history $1 trillion writeoffs! Then NO one ever considered that this action on sept 18,2008 the economic terrorist attack that moved $500 billion out of USA money market fund in 2 hours and if nothing done the world economy would collapse! All because Congress in 1977 thought Let's do something for the poor people so they can buy homes! All because Congress in 1986 thought.."let's help those people with no insurance to be serviced by hospitals that take Medicare... EMTALA! Sounds compassionate. Right to do . As a result today we have hospitals billing Medicare for services the hospitals markup 6,000%! Services that cost the hospital $43 they bill Medicare $2,635 6,000% markup! All of the above because Congress thought they were helping!!!!