[Undertoad]

I asked tw,

Originally Posted by Undertoad

Can you point to the specific deregulation that made that possible.

He couldn't, because there wasn't any.

http://online.wsj.com/article/SB122403045717834693.html

While there has been significant deregulation in the U.S. economy during the last 30 years, none of it has occurred in the financial sector. Indeed, the only significant legislation with any effect on financial risk-taking was the Federal Deposit Insurance Corporation Improvement Act of 1991, adopted during the first Bush administration in the wake of the collapse of the savings and loans (S&Ls). FDICIA, however, substantially tightened commercial bank and S&L regulations, including prompt corrective action when a bank's capital declines below adequate levels and severe personal fines if management violates laws or regulations.