Elizabeth Warren is on the right track

Niall Ferguson continues to hawk his free market snake oil. I think Elizabeth Warren is on the right regulatory track. The financial products market IS broken. We need more regulation on the front end. The productization and resulting demand for CDO's drove the market for sub-prime mortgages. Anyone who thinks consumers drove the sub-prime mortage market is delusional. The CDO market was PROFITABLE and the financial services industry couldn't get enough of them. If the right regulations were there for mortgage origination, the market would never have developed. Yes, that's Monday morning quarterbacking. And, yes, that exactly the kind of lesson we need to learn to provide the RIGHT reglulatory environment in the future.