Now I don't want this to become a political blog, but sometimes there are things that you just cannot let slip by. The other day Senator McCain said that the problems with the collapse of our large investment banks are primarily due to the fact that the regulations governing them were put in place in the 1930's and are now outdated.
Pardon me? He must have forgotten the Financial Modernization Act of 1999 that specifically undid many of the regulations put into place in 1933 after the Great Depression. That act basically broke down the barriers between banks, investment companies and other financial institutions.
Regardless of which political party may or may not be primarily responsible for our current mess, you should at least know the facts about what has contributed to it.