what role did the relaxation of government regulation play in the economic crises?

what role did the relaxation of government regulation play in the economic crises? Consider how many business executives are being accused of fraud, misrepresentation, or violations of the securities laws?  What are the ethical issues for businesses and CFO and CEO's? Madoff, for example, plead guilty to numerous violations. I would like you to read one article about ponizi schemes and post your thoughts about it.  Should all the blame be placed on the organizer of the Ponzi scheme? Do the investors share some of the blame? After all it is an investment-a risk to be taken? What went wrong with the company? How do Ponziorganizers mislead their investors? What were some of the legal charges against them? What lessons can we learn as budding lawyers, the public the at large, and as a nation from this experience?