Former FDIC Chairman Don Powell helped development of the Mortgage Crisis. His mantra during his tenure was to reduce government oversight of banks to help them make more loans even at more risk. His theory was that the profits by banks would more than cover any losses.

Mr. Powell was a very small bank owner in Amarillo, TX, then helped President Bush win the election in Texas. For his deregulation efforts, President Bush rewarded Powell by appointing him in charge of handing out government grants to Hurricane Katrina victims. Powell has demonstrated political favoritism in distributing the funds for recovery efforts. When people believe Washington is broken, it really is being caused by the President and Presdential appointees who run the government in the executive branch.
However, not all Republican appointees are inept or corrupt. Current FDIC Chairman Sheila Barr is doing her best to cleanup the mortgage damage caused by Mr. Powell. Ms. Barr was identified by Forbes magazine as the second most powerful woman in the world. Someone of Sheila Barr's competence should have been the VP pick. She has my respect.