Where to start . . . . . Jim, I'm glad you are "involved." You are clearly thoughtful and you've written much with which I agree. But . . .
Isn't there always a "but?"
Let's see, if you are counting on Rachel Maddow for your news you've got big trouble.
The history is a major pothole in your analysis.
There's Sarbanes-Oxley, the most comprehensive and repressive regulatory scheme since the New Deal; passed by a Republican Congress and signed into law by G.W. Bush. De-regulation? Jim, please read a newspaper.
The Securities and Exchange Commission had the authority to shut down Madoff but, instead, used him as a consultant! That was a bureaucratic failure, not an absence of regulations.
The Massey Coal Mine had countless safety citations and continued in operation. Is that because there were a lack of safety regulations or a lack of action by the government's mine safety people? Don't ask Rachel, the answer doesn't fit her meme.
Wall Street cratered in the wake of the mortgage collapse which was precipitated by government regulation (the Community Re-Investment Act) which forced lenders to provide loans to people who coudn't repay them. You know, and we probably agree, that the government's shortsightedness was coupled with out of control practices by investors to complete the perfect storm. Wall Street is the home of the stock market; not the whole of the free market.
You will recall that when the GSE Federal National Mortgage Association (Fannie Mae) was scrutinized for its practices (see the testimony of Alan Greenspan in 2007); Congressman Barney Frank of Massachusetts resisted efforts to bring Fannie Mae under greater regulatory control. You will also recall that the principal lobbyist for Fannie Mae was Congressman Frank's live in companion (his words, not mine). You will also recall that Fannie Mae was being "run" by Franklin Raines, an economic advisor to former President Clinton. Mr. Raines has retired from Fannie Mae, as a multi-millionaire.
Keep speaking up, and civilly, as you have. From time to time, your views may change. The truth will set you free.
If you provide better data and subject it to the proper epistomology; I will include that information as I revise my opinions. I will thank you for informing me. The more I learn, the better my opinons get. It's the fun part of growing up.
Cheers,
Ed
"History, it's just one damned thing after another." Harry Truman
"It ain't what folks don't know that's the problem. It's what they know that just ain't so!" Josh Billings