Deregulation

Conservatives love to sing the praises of deregulation. They claim that it helps businesses and creates jobs.

Deregulation led to The Great Depression, the Financial Crisis of 2008, and the collapse of the Savings And Loan system in the 1980s. Financial institutions took on more risk and engaged in more speculation. Why? Because the regulations that would have discouraged this behavior were weakened or eliminated.

Deregulation is like giving whiskey and care keys to teenage boys and expecting them to go out and start responsible businesses.

Every time we go through one of these massive catastrophes, responsible people come up with a set rules and best practices to prevent a repeat of past mistakes. The pushback begins immediately. “All of these regulations are hurting our business!” No. These regulations are preventing BUSINESSES from harming THE REST OF US and then asking for a BAILOUT when they get into trouble.