Wall Street ran a Ponzi scheme in the Bush years.
That's why the economy collapsed. Now we need to re-regulate the markets.
The Republican Party almost destroyed America.
The GOP? I'm blinded by the ignorance of that comment.
Too bad the Dems didn't listen to the Republicans who warned them that more regulation was needed back in 2004. When it became apparent in 2004, with the sub-prime requirements in place, that both F&F needed regulation, the Republicans were begging for that regulation. Frank, Waters, et al saw no need for any regulation.
Here is an excellent example of how these folks ignored this problem back in 2004.
Democrats on Fannie Mae in 2004 Video - sevenload
Note
Democrats Waters, Meeks, Frank, Clay say
"there is no crisis", "nothing is wrong", "I don't see any ... problems", "not worried about safety and soundness". Even Bill Clinton tells us there is no problem.
Also note Republicans Royce, Baker, Shays, Manzullo all call for regulation, control, bonus reform, etc.