Four years ago, there was no problem, the Democrats emphasized. They were sound institutions. Apparently the only ones on earth the government shouldn't be reining in. The regulator should be worshiped, except when regulating a politically popular government-allied institution. Thanks to Jason Murray for the link.

Of course, the Republicans are not much better on this, and are as bad or worse on many other questions related to the current economic downturn. The proper '08 strategy: Don't vote.