Too Much Regulation, Really?

At some point,you just have to point and laugh at these clowns.

Banking expert Bert Ely sees things differently:

Had Glass-Steagall never been enacted, had it been repealed much earlier than 1999 … the Big Five investment banking firms … might not have become as focused as they did on buying, securitizing, and trading subprime, Alt-A, and option-ARM mortgages. While the large commercial banking companies also engaged in mortgage securitization and originating nonprime mortgages, they did not get as deeply involved in those activities as did the investment banks. Arguably, then, had the separate, distinct investment-banking industry been melded into mainstream commercial banking years ago, today’s mortgage and financial crisis would not be as severe as it is, or may not have occurred at all.

Really?

I mean my opinion of Pethokoukis is slightly above that of telemarketers on a Sunday during NFL season, but he's really wanting to front the opinion that the problem was that mean old Congress didn't let the greedy banks to the investment and derivative money trough fast enough? They would have actually been less greedy?

Bullshit. Seriously. Then how do you explain their behavior now?