What should Bush have done
16th September 2008
Megan McArdle joins the happy chorus.
One of my commenters blames Bush for gutting the predatory lending laws at the state level. A wicked pundit would note that this is a project near and dear to the heart of one Senator Joe Biden, (D-MBNA). A less divisive voice would point out that predatory lending laws are aimed mostly at payday loans and credit cards, not housing loans. The fraud problems in the housing market seem mostly to have been perpetuated by mortgage brokers, who are still regulated at the state level. The worst problems are in Democratic-dominated California.