Finance is not easily understood

The number of people who really understand the intricacies of world financial markets are few, so there is ample opportunity for wild prognostications.

Insufficient regulation has been widely proclaimed by Democrats as a cause for our “meltdown.” There may be some truth to that, particularly when applied to Fannie Mae and Freddie Mac, which was the “trigger.” Accepting that premise, the blame has to be placed with the Democrats, who resisted efforts to restrain their excessively lax lending policies as long as five years ago (FM and FM made large donations to Democrats – just a coincidence?)....