| Video: Bank Bailout Follows 10 Years Reg Failure |
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| Contributed by J. R. Ransom | |
 Bank Regulator Banking regulators had to know this was coming, but did nothing. Now we're paying the price. This video starts off with Jim Cramer back-peddling on his ranting appeal to the Fed to bail out his hedge fund pals, posturing that his motive was to save Joe Sixpack from a second Great Depression. Oddly, Cramer brags that he was involved in selling crap S&L paper, which caused a mini-depression in part of the American southwest in the 1980s and early 1990s, as more than one million homeowners walked away from their homes. You can still see the foundations of unfinished homes in parts of Texas to this day. We move on from Cramer to look at the challenges that confront Congress as politicians try to get the mortgage debt horse created by an out-of-control lending industry back into the barn and the Fed deals with market panic and turmoil after ten years of regulatory failure come home to roost.
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