[merrylander]

Guys when Glass Stegal was law of the land things ran pretty smoothly, there was little wringing of hands or gnashing of teeth. We didn't even hear much weeping from Wall Street. Then Phil Gramm got into the act and screwed about with a working system. The New Englanders are right "If it ain't broke, don't fix it."

Now when something is broke we have people angry because they want to fix it, like our stupid mortgage system. Apparently the left is upset about the plan to decomission Freddie and Fannie. Everyone is saying it will make mortgages more expensive. That is pure BS, Canada does not have a Freddie or a Fannie, does not have Title companies or Title insurance, does not have mortgage brokers. Yet home ownership in proportion to population is slightly higer than here and mortgages are no more expensive. Of course they also do not have Securitization or Derivatives.

I don't hear cries of anguish from Canadian busnissmen about regulation. They simply get on with it and get the job done. When we here finally get it through our heads that greed is a human condition and is alive and well, we can set about coping with it. Burying our heads in the sand and listening to those Yahoos at the Chamberpot of Commerce will only lead to another recession. We might also stop listening to Darrel Issa every tim he pulls his head out to give a press conference.