Re: Major Causes of Financial Mess

... When the feds decided they would no longer "regulate interstate commerce" in regards to the financial sector the crooks had carte blanche to cook the books, sell empty baskets and laugh all the way to the bank. When we allow one sector to cheat because we have something to gain from it, we can't really complain when another sector gets the same benefits ...

With respect to current financial meltdown, what exactly were the feds
no longer regulating that caused the problem? Is this what allowed
local banks to make bad loans and then off load them to parties out of
state?
.