@anamax Did you try to run a scam in the real estate bubble? You probably didn't. Therefore the regulations worked. The reality is that with absolutely no regu

@anamax Did you try to run a scam in the real estate bubble? You probably didn't. Therefore the regulations worked. The reality is that with absolutely no regulation, there is an incentive to do lots of hanky panky. With regulation, you take away the incentive to the casual 'crook', or 'opportunity taker'. However, no amount of regulation will prevent the most hard-nosed of crooks. Just like no amount of security will stop the most hardcore hacker/burglar. With regards to the mortgage crisis, there were financial incentives to skirt regulation. People respond directly to incentives, so it is no surprise that happened.