Yes, I do realize what I said. More regulation didn't cause this problem... bad regulation did.  If regulation can put an end to shady lending practices, that would be a good thing.  And regulation coming from a Bureau that is tasked solely with looking out for the interests of ordinary people (as opposed to the banks) is a step in the right direction.

Fixing things in November is a farce.  I'm sure you are under the impression that if the Republicans retake control of the Senate and House (which is doubtful) that they will fix things, but I don't share your optimism.  Republicans have not done any better than Democrats.  They don't have any better insight into ordinary people than the Democrats do - but I'll give the Democrats (including President Obama) credit for putting Elizabeth Warren in a position to be the consumers' watchdog.  Nothing that has been done so far in this fiasco has made as much sense.  We finally have someone in Washington that has studied the economic impact of bad policy on the middle class.  You have to give credit where credit is due.

I'm sure she will be criticized when she doesn't fix everything overnight, but this mess has been building for 30 years.  It might take another 30 to reverse the destruction of the middle class, but regulation to protect the people will get us moving in that direction.

Best,
Robert A. Franco
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