Over and over again at the GOP convention and on the campaign trail: government regulation bad, deregulation good. Did the entire GOP not see the banking crisis coming?
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I think they saw it coming. Economists have been terrified the housing bubble would burst for more than 2 years. I think they hoped the bubble would pop after Bush left office.
can you imagine the debacle if McCain takes office. . . sure we’ve just handed out $700 billion to wall street but we’re going to cut taxes for the wealthy too — that’ll really fix it.