4 ms·

What lessons did we learn that led to this being so highly regulated like it is? Why can't people do what they want with their money, in essence?

• woodruffw 5y ago
  > What lessons did we learn that led to this being so highly regulated like it is? Is this a rhetorical question?
  • knownjorbist 5y ago
    Not at all. It's strange to me how paternalistic HN seems to get on this front. I would love concrete examples.
    • woodruffw 5y ago
      Proportionate to its role and impacts on civil society, I’d actually argue that the financial sector is remarkably unregulated. But in terms of concrete examples: I think the Great Depression, Great Recession, and post-war mortgage discrimination all suffice.
      • knownjorbist 5y ago
        What does this have to do with lending to retail though? How does this particular regulation prevent those from happening again?