When the last housing bubble burst, politicians blamed "greedy banks." They said mortgage companies lent money recklessly, making loans to people with dubious credit, for down payments as low as three percent. "It will work out," said the optimistic bankers. Regulators didn't disagree. Everyone said, "Home prices will keep going up." And home prices did—until they didn't. The bubble popped in 2007. Then the politicians said, "We'll fix this so it doesn't happen again." Congress passed Dodd-Frank and a thousand new regulations. The complex rules slowed lending, all right. It's one reason this post-recession recovery has been abnormally slow. But, writes John Stossel, the new rules didn't solve the problem of reckless lending, and it's happening again.