TARP, however, should have been followed with *strict* and *meaningful* regulatory reform to ensure this does not happen again. Of course, Congress failed and delivered half measures instead.

Bush said in one video statement “under normal conditions” we would let businesses succeed and fail on their own. Whatever…That’s what happened to Lehman Brothers which led to silent bank runs and utter panic.

Now if ultra conservatives get back in control, they’ll refuse to do the right thing when utter panic occurs again because the proper reforms were not made. They are too ideological.

“Great ideology creates great times.” Kim Jong il