Just looks like a soapbox speech on why we should all bow down before (changed wording to be more family-friendly) Milton Friedman's corpse. Ho-hum. Throw another copy of "Atlas Shrugged" on the bonfire, honey, I'm cold.
I am no fan of a heavy handed regulatory response to all of this, since it would make things worse. However, the feddle gummint clearly has a resposibility to keep the banking system operational, as it is ultimately backed by the taxpayers. Part of that is policing the mortgage lending and securities dealings of banks, and appparently it also requires making sure the securitization market reopens at some point.
"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."
- English Bob