Well, there it is. The bad news is that people blindly trusted the Fed to maintain some sort of regulatory oversight of the market in an age of deregulation.
WOW! like totally!
What if the core problem here is that there are people who pimp the "let me give you my confidence in exchange for your money" as a valid market theory that should be allowed to exist outside of the market regulatory system....
Or was it that the economic regulatory policies are not more faith based systems?