Tea Party Protesters Want Fewer Government Regulations, Like the Ones That Could Have Stopped Goldman Sachs?

Deregulation, smaller government and a return to the liberties and freedoms that made this country great, that's what we hear from the Republican "populists" like Rep. Paul Ryan and the latest crop of conservative candidates.

Such declarations sound reckless to me.

It also explains why there is a concerted effort by the right to deny their policies had anything to do with the Great Recession, obscuring the causes with hyperbolic fantasies of compassionate, fair free market statements, hoping no one will look back at how capitalism failed. McClatchy Newspapers didn't get the memo.

By Greg Gordon, McClatchy Newspapers:

In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers that it also was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. A five-month McClatchy investigation has found that Goldman's failure to disclose those secret bets may have violated securities laws.

More here.....