Well, actually deregulation played a very small part! The major part of the problem was the simple fact that regulation was not actually DONE! Government usually has no decent (knowledgeable) people in charge of regulation so just how are they to perform their jobs! What, leave it to Congress - those idiots, especially when it involves economics!-—geez.
As to the Fed, FTC, and most other groups, just who do you think was qualified to regulate? Most were just biding their time and collecting their pensions.... Regulation for the most part is a JOKE!!
So...now that we know that government regulation is just a joke, how do we regulate rampant criminal activity? Well, I really don’t know - it is a major problem but I don’t see an easy solution. Politics is too corrupt to solve it - what is your answer?
Re-set the regulations on Glass Steagall. Put derivatives on exchanges. Ban some outright. Set positions and limits on energy commodities. Set leveraging limits. Enforce consumer protections. Ease up on cram down laws to keep lending more real. Make bankruptcy easier. No more bailouts.
parsy, who would start there