Ann Coulter explains why the Dems are so "concerned" about Wall Street:
"For the past two decades, Democrats have specialized in insulating financial giants from the consequences of their own high-risk bets. Citigroup and Goldman Sachs alone have been rescued from their risky bets by unwitting taxpayers four times in the last 15 years."
"...whenever the Democrats "regulate" Wall Street, the innocent pay through the nose, while Wall Street swine lower than drug dealers and pornographers end up with multimillion-dollar bonuses so they can run for governor of New Jersey and fund lavish Democratic fundraisers in the Hamptons."
More background here: a book review of Peter Schweizer's book "Architects of Ruin: How Big Government Liberals Wrecked the Economy and How They Will Do It Again If No One Stops Them"
"Vernon Smith, a Nobel laureate in economics, says the federal government 'set the stage for housing bubbles by creating those implicitly taxpayer-backed agencies, Fannie Mae and Freddie Mac, a lenders of last resort.' In other words, far from being the results of runaaway capitalism, the housing bubble and the financial crisis that followed are the results of runaway government." (Page 119)
"The great irony is that those who unleashed this economic calamity appear to be the main beneficiaries of the crisis they helped to create. What's more, they are back in power today and are basicaly planning the next one." (page 166)
Now, from the Boston Globe, check this out: Frank leads push to disband mortgage corporations. Classic case of the "fox guarding the hen house".