Okay gonna try again.. and i stink at cut and paste others comments so just gonna try to be clear.
My point with the 1% was that i have known some that rose from poverty to rich and a few who went from rich to poverty. I personally have been in every spectrum and yes as paratwa said middle class now is hardly what it once was so as the definition changes of what is a class so most the percentage.

As far as the economy and the current crisis. I am far from an Economist but i am a comptroller so understand accounting. My point was not that we need to do away with all regulation. My point was more an expression of frustration with the current government as a whole. They enacted rules and regulations to enable people that couldnt afford houses to buy them. They sponsored Freddie and Fannie to make it so banks and lenders could write these risky loans then sell them to Freddie and Fannie.
My outrage was that after doing this they turn around and blame wall street and greed for writing the same loans they encouraged. I want to see someone from our government take some resposibility for this mess as they were a major contributer.
How is that asking for removal of all regulation? Or even saying let the free market run rampant?