Think about it. It’s a fairly common belief that “under Bush the economy was un-regulated, and that’s how out-of-control business people drove us over the cliff. But now that it’s regulated, things can only get better.” President Obama still reiterates this theme, in a variety of different ways. Of course, the idea that our economy is, or was “un-regulated,” is utter nonsense. The electronic device with which you’re reading this – a computer, “electronic tablet,” iPhone, whatever –was designed, assembled, transported, and sold under heavy U.S. government regulation, and it’s powered with electricity that was generated under heavy regulation. The same would have been true had you read one of my columns back during the eight years of the Bush presidency, as well. As for the mortgage lending meltdown – well indeed, bad government was a big part of that problem. Yet it wasn’t a lack of government regulation that helped bring about the crisis, but rather it was too much of the wrong type of government regulation that did the damage. For years the feds sought to make it increasingly easy to buy real estate, all in the name of the “affordable housing” agenda. Flawed as his presidency was, George W. Bush actually tried at least twice to reign-in the out-of-control lending, only to be shot-down by both Democrats and Republicans in the Congress (a fact I documented succinctly in my latest book – see below).