Economic blowback: the finanical crisis

I) Of course, the crisis in which mortgage-heavy banks and other lending institutions (e.g., Lehman Brothers, and so on) find themselves stems in huge part by giving loans willy-nilly to people that could not afford the properties -and in turn suffered foreclosures, losing their homes ....
Yet, II) we would be remiss to ignore the financial system's mess as also arising from the [Republican-driven, we should note!] deregulation mania of the 1980s. This crisis is economic blowback for ill-conceived lending practices and ill-conceived regulation "reforms."
Ah, deregulation . . . look at what it has wrought: disaster for the airlines; disaster for banks and other lending institutions.
Here is a good piece of the second factor noted above, namely, David Lightman, "Wall Street crisis is culmination of 28 years of deregulation", September 15, 2008, in McClatchy Newspapers.

The video with Bush's "Wall Street got drunk" comments

Well, well, well, we have suspected that Bush is disregarding the hurt and pain that people feel in the economy.  If this is how people feel, shouldn't elected officials speak in a sensitive manner on the issue?  

Not so with George W. Bush, the Decider.  Here we have Bush speaking candidly, flippantly about Wall Street's meltdown this year.  He was speaking last weekend, on July 18, 2008, at a fundraiser for Republican challenger Pete Olson for Texas' 22nd Congressional District.  (Olson is challenging Democrat Nick Lampson.  The suburban Houstan district has a high median income of $57,932.  This had been tragic former House Majority Leader Republican Tom DeLay's seat.  The seat became an easy snatch for the Democrats because the Republicans only had a write-in candidate in the special election, as DeLay's resignation came in too late.)

Thank you to Houston's abc13.com (WTRK) Miya Shay for uploading the speech along with her report.  Watch out for those cameraphones!  

It is uncertain, there’s no question about it.

Wall Street got drunk, it got drunk, (it’s one of the reasons I asked you to turn off your tv cameras.) It got drunk and now it’s got a hangover. The question is how long will it sober up, and not try to do all these fancy financial instruments. 
           And more, see the video, here:

http://politicalblog.abc13.com/2008/07/what-did-bush-s.html