> Yes, the 2008 crisis was bad. But on the whole, are people still worse off? When my parents bought a house in 1989, their interest rate was multiples higher than I’m paying now.
In 1980, Congress passed the Depository Institutions Deregulation and Monetary Control Act.
> Moreover, the boom times of the 1990s was also partly due to the financial system.
So surely you remember the tech bubble then and all of the consumer loss. One snippet to jog your memory: "Pets.com stock had fallen from its IPO price of $11 per share in February 2000 to $0.19 the day of its liquidation announcement." [0] I'm sure there were plenty of consumers who bought into that company under false pretenses.
> Thus looking at busts, instead of long-term trends, is a convenient way for pro-regulation folks to distort the overall impact of deregulatory measures.
What about if we flip that around, maybe... Looking at falsely inflated markets, instead of real earnings and growth, is a convenient way for pro-deregulation folks to distort the overall impact of regulatory measures.
Get rich schemes are unfair to the unknowing victim. There are more parallels with many of the questionable financial vehicles and products that turn up when no rules are in place.
In 1980, Congress passed the Depository Institutions Deregulation and Monetary Control Act.
> Moreover, the boom times of the 1990s was also partly due to the financial system.
So surely you remember the tech bubble then and all of the consumer loss. One snippet to jog your memory: "Pets.com stock had fallen from its IPO price of $11 per share in February 2000 to $0.19 the day of its liquidation announcement." [0] I'm sure there were plenty of consumers who bought into that company under false pretenses.
> Thus looking at busts, instead of long-term trends, is a convenient way for pro-regulation folks to distort the overall impact of deregulatory measures.
What about if we flip that around, maybe... Looking at falsely inflated markets, instead of real earnings and growth, is a convenient way for pro-deregulation folks to distort the overall impact of regulatory measures.
Get rich schemes are unfair to the unknowing victim. There are more parallels with many of the questionable financial vehicles and products that turn up when no rules are in place.
[0] https://en.m.wikipedia.org/wiki/Pets.com