Posts Tagged ‘deregulation’
Wall Street’s meltdown: deregulation and lack of consumer protection
The StarTribune has a commentary on the current turmoil in the financial markets. While the latter half of the commentary turns into an endorsement of Obama,* the first part identifies the cause clearly and concisely: “The banking and investment industries have been inadequately regulated, and consumer protections were diminished.”
All the fancy highly sophisticated financial products [...]
How much did deregulation contribute to the recession (economic slowdown, whatever)
Deregulation refers to the point at which the U.S. government threw up its hands and said “all right banks, power companies, airlines, etc., do whatever you want!” and the deregulated industries had a big party. Eminent jurist and economic theorist Richard Posner says that might have been a mistake: “a tighter ceiling should be placed [...]
