The financial and general media are to blame for not explaining what they report as blurbs. They talk about regulation without putting it in laymen’s terms. They do not properly explain financial risk.
Risk was never overcome by regulation and the media can more fully explain this, if they ever truly tried to find facts out for themselves and reported them so the average person could understand.
Example: Fannie Mae and Freddie Mac were risky semi-government agencies who were instrumental in our subprime debacle. There was no lack of regulation. But the 2008-2009 financial meltdown has resulted in even more useless and restrictive regulation.
Moreover, the U.S. is still backing risky consumer mortgages. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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