"is a huge leap and pre-supposes not only various conspiracies but criminal ones at that. It works for rhetorical excess in formats like this and talk radio, but fortunately doesn't make it in the real world of law and regulation"
Ahhhhh yep, Dog! Seems to me that the the Rating Agencies Rated Crap Securitized Debt as AAAA, Realtors had homes appraised for greater than they were worth, Banks/Mortgage Companies lent Pennyless, unemployed non-citizens hundreds of thousands of dollars, and all the while Barney Frank and his cronies were telling us Fannie May & Freedie Mac were solvent and were in no trouble of failing.
The "real world of law and regulation" that you speak of Dog is NON EXISTANT! As I've pointed out in earlier postings NO ONE ... NADA has been INDICTED for the aforementioned CRIMES!
Oh, and let's not forget that CEO's were paid 40 - 50 millions Plus dollars for FAILURE! Witness the 3 Automobile Exectutives who are being paid many millions of dollars but yet demand our tax dollars to bail out their FAILED MANAGEMENT POLICIES.
And if we don't bail them out they point out that a couple of million workers will be out of a job. But, they didn't even bring a game plan showing how they would turn around their FAILURE.
Not to worry though, they'll be back shortly with tin cup in hand, and I'm sure they'll have a game plan that will satisfy Congress. The new dog and pony show will be very successful. Rumor has it the 3 Auto Exectutives will Car pool from Detroit this time. Ahhhh, symbolism over substance will get them points too.
But I digress, I'll believe your rhetoric Dog when SOMETHING/ANYTHING is done concerning the GREATEST ECONOMIC DEBACLE IN THE HISTORY OF THE WORLD.