You mean, removing rules that separated Investment Banks from Savings Banks DIDN'T cause the meldown? I know you Liberals must be furious! HuffPo from 2010, updated 2011: Jacob Lew, Obama Nominee And Former Citigroup Executive, Doesn't Believe Deregulation Led To Financial Crisis Let's look up "proximate cause" shall we? Proximate cause - Wikipedia, the free encyclopedia So he says that Banks had problems BEFORE deregulation AND that the deregulation WASN'T the main driving cause of the Economic Meltdown! And that means Obama doesn't believe it either because he nominated him!