[quote=sdgrrl]… it seems the lending/mortgage industries had a laissez faire existence for awhile and we saw how it ended up.[/quote]
The mortgage securities industry is an example of a market that is not a free market – not because it was over regulated, but because the fraudulent behavior of the ratings agencies was unpunished.
That setup is a travesty, and often gets lablelled “Laissez Faire” or “Free Market” or “Capitalism” when in fact it is a foolish concoction of central government.
There is a big difference between Laissez Faire and government turning a blind eye to, or condoning fraud. They are, in fact, the opposite.
