Unregulated Capitalism and The Mortgage Crisis

I’ve a passion for Business and keep looking for information on it. Today, I checked if I could find more info by entering ’secondary mortgage market’ in Google and found this:

Conservatives have a mantra- the market is king. They feel that any government regulation of business activity is too much, and further, that if a consumer is too stupid to understand all the fine print legalese then too bad, so sad. To make money is the ultimate goal, regardless of who you throw under the bus to do so. After the Great Depression and the stock market collapse of 1929, government eventually (under a Democratic president) managed to rein in the worst abuses of the private sect

What do you think of that?

Wachovia Cuts HELOCs

Wachovia credit-line customers whose home equity has declined 50 percent or more received letters in the last several weeks saying that their credit lines had been r…Wachovia is the latest of the nations big banks to close or reduce the size of home-equity lines of credit in response to the residential real estate downturn….

What do you think? Please post a comment, thanks!