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Do people who think banks and corporations are good at self-regulating not look at history? The same pattern has repeated for hundreds of years—it’d be embarras
by jonathanyc 9y ago
Do people who think banks and corporations are good at self-regulating not look at history? The same pattern has repeated for hundreds of years—it’d be embarrassing and horrible if a drunk driver didn’t learn their lesson after a decade, but we haven’t learned our lesson after at least a century.
- throwaway2048 9y agoThe ideology of regulation and big government = bad is more important than any amount of evidence to some.
- JustSomeNobody 9y agoThis is the internet where vast troves of historical data are stored and shared but everyone decides to rely on their recent memory instead.
- rafiki6 9y agoHundreds is a bit of a hyperbole here. We've only had modern corporate America for maybe the last 150 years. Pre-industrial companies didn't have as much power or clout as large behemoth enterprises do today.
- jonathanyc 9y agoWe’ve only had the Internet for a few decades, but that doesn’t mean we can’t draw parallels between the dot-com bubble and what happened before, or that we shouldn’t have learned from the past. Consider the Amsterdam banking crisis of 1763, which some have compared to the 2008 financial crisis. https://en.m.wikipedia.org/wiki/Amsterdam_banking_crisis_of_1763 https://en.m.wikipedia.org/wiki/Amsterdam_banking_crisis_of_...