Some people did see this coming and called for more regulation. Others pooh-poohed the danger and insisted all was well. Contrary to what you have been told, Republicans wanted stricter regulation, but the Dems would have none of it. Hear them in their own words:
If we don't learn from our mistakes, we'll keep repeating them.
This relatively short video is right on the money in describing what has caused the destabilization of the financial system. The problems didn't develop overnight, and, as usual, government policies based on Good Intentions led to unintended consequences. The information content of the video is quite "dense," so frequent use of the pause button is suggested.
We're not yet convinced enough to actually watch the show again, or even invest the DVR space on it. The funny part of these, of course, is the willingness to make fun of the liberals as well as the conservatives. We'll see if that holds up.
N. B.: All posts and comments represent the views of the individual writer, even if expressed in first person plural. These views are not necessarily those of other posters or of the employer of any of the writers. Rude or offensive comments may be deleted by the site administrator. However, failure to delete a particular comment does not imply agreement with the views expressed in it.