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You don't have to, because of FDIC insurance... ...and now you know why things went to hell in 2008.

• imgabe 13y ago
  That's a completely different take on the financial crisis than anything else I've read. The history of the financial industry is one of the industry finding ways around existing regulation, over-leveraging itself, and then crashing. Financial panics were a common occurrence before there were regulations. You're saying that less regulation would create a more stable system, but that historically has not been the case. In other words, for what you're proposing, we tried it and it didn't work.
  • drcode 13y ago
    Actually, we sorta tried this between 1850 and 1920, which is pretty much the highest GDP growth time period in the history of the US.
    • imgabe 13y ago
      Which also included a financial crisis and recession roughly every 10 years and ended with the Great Depression. How much faster would the economy have grown if it hadn't been plunged into recession once a decade? http://en.wikipedia.org/wiki/Financial_crisis#History http://en.wikipedia.org/wiki/Financial_crisis#History
      • drcode 13y ago
        Growth might have been faster or slower, who can say.