had a bad day
Here's something that probably doesn't happen too often. Former Federal Reserve chairman
Alan Greenspan had a crappier day than you did. He had to admit before our federal government that his free-market, anti-regulation ideology was "flawed." Ouch.
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deregulation
Deregulation refers to the point at which the U.S. government threw up its hands and said "all right banks, power companies, airlines, etc., do whatever you want!" and the deregulated industries had a big party. Eminent jurist and economic theorist
Richard Posner says
that might have been a mistake: "a tighter ceiling should be placed on the risks that banks are permitted to take."
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Consumerist
