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Your premise seems to be that all regulation is the same. Correct me if I'm wrong but your argument essentially is saying: "financial products were regulated in
by Steko 15y ago
Your premise seems to be that all regulation is the same. Correct me if I'm wrong but your argument essentially is saying: "financial products were regulated in 2008, well see how that worked out, therefore regulation doesn't really work well"
Sorry I don't buy that. Financial regulations put in place during the great depression worked pretty good. Then they were slowly pared back over three decades starting with Reagan. All the evidence I've seen is that the financial products were massively under regulated.
- mc32 15y agoI see what you are saying. I think regulation helps and it provides a way for redress. Those are good byproducts of regulation. I think my point was that bad people will still try to pull fast ones -regulated or not. I imagine the frequency of fraud could be reduced by regulation. So, from that standpoint it might be better to have it on the up and up and supervised -but supervised with a very keen eye and a regulation with teeth, as it were.