Does anyone still listen to our Idiot-in-Chief? Do you really think he knows anything about economics? Despite having a Harvard MBA, we all know he was probably shooting spitballs at the nerds while the others in his class were trying to gain a better understanding of the nature and mechanics of our economy.

Everything this man has touched -- and I mean "everything" -- has turned into disaster and failure. And we have been burdened with this fool for the past 7+ years because of a stolen election in 2000. Am I bitter? You bet your ass I am. The country is in a truly sad state of affairs in so many areas and on so many levels and I attribute it all to the incompetence and stupidity of George W. Bush and Dickless Cheney and their administration that is packed with their friends and those political hacks who will do their dirty work for them. And let's not forget the huge role of what was his Republican controlled congress -- a group of fools who rubberstamped everything that this man ever said he wanted or needed, including the methodical evisceration of our Constitution..

Now, America and the world is paying a huge price. Thanks for nothing!

We don't need a bunch of additional regulations what we need is a few simple regulations.

1) Outlaw usury interest rate. Any rate of 10% should be considered unlawful. This would force lenders to only take on prudent risks and not go crazy on exotic financial instruments. If the risk requires a greater than 10% rate of interest it is not really a loan it is speculation. PS: Imagine the benefits to the credit card holders of interest rate on their credit cards being reduced to 10%. Talk about stimulating the economy.

2) Compulsory payment obligation comparison. Make it compulsory for lenders to show how the total repayment plan compares to a repayment of a standard bank loan with a fixed prime interest rate. Such a comparison should include the maximum payment obligation and anything greater should not be enforceable.

3) Minimum jail time for white collar crime. Too often white collar criminals walk free after destroying the lives of others. These financial villains should face a minimum jail time of at least one year for every million stolen, this will hopefully serve as a real deterrent to the crime.

"In Congress, Democratic lawmakers are drafting bills that would create a powerful new regulator -- or simply confer new powers on the Federal Reserve -- to oversee practices across the entire array of commercial banks, Wall Street firms, hedge funds and nonbank financial companies."

WTF?

As I understand it the Federal Reserve isn't actually part of our Government. So,... why is it that Congress wants to give the banking interests that run the FED the legal standing to regulate themselves?

Fox guarding the henhouse is mostly what got the banks into this mess to begin with. Insanity,... repeating the same process over and over, and expecting a different result.

Are the members of Congress, lazy, stupid, insane or just complicit?

reagan was a genius. sold the american people on the trickle down theory and degregulation. now we must live with the results of our ignorance. give the man credit in a dumbed down nation he pulled off a great wealth benefit for the have mores.

and his ideas are still making the rich richer while americans bail out wall street and banks. it will all work out in the end. it wont be pretty but it will work itself out.

be thankful our economy is going into the tank. what did we do with our wealth as a wealthy nation but become an imperialist and war mongering country and a bully to the world.

Deregulation began with the Reagan Revolution. Totally free markets allow the worst economic behavior to thrive, unfettered. The Reagan Revolution has collapsed of its own greed. The pendulum should be swung back to regulation. What the h--- is government for, if not to allow for the orderly, fair running of a civil society? We've had, effectively, the absence of govt for too long.