Go back and ask Barney Frank what HE knew about the bubble. Dodd? Reid? Pelosi? Paulsen? Geithner? Bernanke? Obama? Ferris Bueller? Anyone?
Indeed. Even here on FR it was debated with pro and con arguments for the housing bubble. Even the derivatives and the alphabet soup of financial products created were not known even to people.
Hindsight is 20/20 and it is good to see all stripes of conservative realize what monsters Freddie and Fannie are and how things like the Community Investment Act and a tootless SEC can add up to a disaster. The question is once we take the Senate (and hopefully) the White House will we do anything about it.
These debates are pointless. They should have one on ones or allow them all to give policy speeches alone. Having a nine person debate with time for youtube/twitter questions and silly questions (who on the stage would be your running mate?) don’t do anyone favors.
I digress. All I’m saying is I want hearings and one guy I credit for living up to the hype is Issa. I want him to go after Dodd, Reid, Pelosi (also for wasting money on her own airforce one with booze included), Paulsen, Geithner, Bernanke, Obama, etc. etc.