are you fucking kidding me ? The way that is written, the regulators were required until Cheney came along. BUT in reality, they never were required. They've been around since 1993, so Clinton's admin could have required them too. Are we going to blame him ? no, that would be fucking stupid. Just like this claim.
So you agree, the govt watchdogs were horrible. That's why Conservatives generally don't like big govt. They are filled with retards, criminals, bribery, etc...