Everybody involved in the financial industry seems to be making a killing. The experts say it is due to the deregulation which provides a shower of benefits to all of us. The industry, which is the middleman between investors and users of the same money, provides such sophisticated knowledge that both sides benefit while the middleman makes also takes an enhanced portion. We now have new financial instruments such as crypto coins that make all this possible. It might be interesting to take a walk down memory lane.
In 1981 Reagan deregulated the banks and savings and loan industries so they would not be shackled by restrictions imposed 50 years previously. Within 10 years George Herbert Walker Bush had to spend more money than was used in WWII to clean up the banking failures. In 2001 George W. Bush further deregulated them by eliminating the difference between commercial banking and merchant banking. Ever hear of derivatives! In 2008 the government enacted TARP funds injected directly into all the major banks while the Federal Reserve pumped trillions of liquidity worldwide to prevent the collapse of the entire world economy into a depression.
However, this time experts claim it will all be different.
