Government interference in the free interactions of people(the market) are always an attempt to cheat reality. Insane and childish. It’s a game of let’s pretend. Let’s pretend that everyone has earned and can afford a house. Let’s pretend that everyone is equally credit worthy. Let’s take money from some people and give it to others so we all can pretend that they are prosperous.
You can fool reality only for so long. Then it all comes crashing down. The bailout is one more attempt to pretend. CRASH!
Business Cycles are like forces of nature. Stand in front of them at your own peril.
This whole thing will be a disaster and be case studied for the next 80 years
Deregulation requires complete transparency - the preferred course for government and industry alike seems to be to implement all sorts of ineffective regulations, then lie, cheat, and obfuscate as they please. ;)