Obama in last night’s debate: 

“This is a final verdict on eight years of failed economic policies, promoted by George Bush, supported by Sen. McCain, a theory that basically says that we can shred regulations and consumer protections, and give more and more to the most, and somehow prosperity will trickle down.”

No, the mortgage crisis proves the opposite: you cannot invent prosperity for people by regulating bankers into making risky loans.

Failed economic policy? Liberalism.