The Republican Party is 3-for-3 on bank failures. It's an incredible string that dates back to the 1930's: Herbert Hoover. 11,000 out of 26,000 banks failed during his term in office from 1929 to 1933. Little or no action was taken by the Hoover administration while many people lost their savings. Ronald Reagan. 747 savings and loans failed under his watch, and he led the bailout effort which cost taxpayers $500 billion. Reagan's push for deregulation of S&L's is cited as a major cause of the crisis. George W. Bush. As many as 150 banks are forecasted to fail in 2008 due to the subprime mortgage crisis. Again deregulation (loose lending standards) is a major cause. I hope the nation learns from this. Banks and mortgage lenders need to be closely regulated. Always. An unregulated bank is a dangerous thing, they can't be trusted to make sound lending decisions without oversight.