When you deregulate stuff, the catastrophic results usually don't come immediately. If they were to come immediately, it would be blatantly obvious to everyone

When you deregulate stuff, the catastrophic results usually don't come immediately. If they were to come immediately, it would be blatantly obvious to everyone that it's a bad idea, and hence deregulation wouldn't happen. So, in practice, most of deregulation happens in areas where it's good for short-term and bad/catastrophic for long-term.