We Didn’t Deregulate

National Review  "Obama won’t have to create a new regulatory system from scratch: For all the lamentation of our allegedly scanty policing of Wall Street, the financial industry already answers to a host of regulators, including the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and, not least, the Securities and Exchange Commission. In fact, as Peter J. Wallison of the American Enterprise Institute explained in 2008, “almost all financial legislation, such as the Federal Deposit Insurance Corp. Improvement Act of 1991, adopted after the savings and loan collapse in the late 1980s, significantly tightened the regulation of banks.” In other words, we’ve had regulation, not deregulation."