Republicans failed to act, AGAIN

Under the Republicans, the regulation of regulated banks and brokerages broke down. In 2000, the Justice Department filed 69 cases of securities fraud based on Securities and Exchange Commission investigations.

In 2007, it filed nine. And this year, Bush's Office of Thrift Supervision allowed Indy Mac Bank to doctor its books so it wouldn't appear to be as insolvent as, in fact, it was.

When the American financial industry came tumbling down this year, the laissez-faire ideologues of this most ideological administration indulged their ideology just once, allowing Lehman to go under.

Thereafter, as one giant institution after another tottered under the weight of dubious deals, the administration FINALLY tossed ideology out the window and funneled money to the banks.