We need deregulation
Writing by abuhatem on Wednesday, 15 of October , 2008 at 3:07 am
Anyone who says deregulation was the cause of this problem is an ignoramus pure and simple. John Stossel of ABC’s 20/20 busts this myth in his newest column for Real Clear Politics:
Barack Obama said, “This is a final verdict on the failed economic policies of the last eight years … that essentially said that we should strip away regulations, consumer protections, let the market run wild, and prosperity would rain down on all of us”.
Is deregulation is the culprit? It can’t be. There was no relevant deregulation in the last 25 years. Meanwhile, highly regulated institutions eagerly bought risky government-guaranteed mortgages, stimulating excessive housing construction and an unsustainable price bubble.
Deregulation wasn’t the problem, and reregulation isn’t the solution.
Category: Economics
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