As deadheadzan rightly notes, controls were in effect: until Reagan. National debt went from under a trillion, to nearly six trillion,(Reagan/Bush 41) and “private” debt soared with the removal of FDIC, FSLIC, and SEC controls. We seem to have forgotten the financial disasters of the mid ‘80’s, staved off by some tax increases. Bush 43 again doubled the National Debt he took over, and did nothing in 8 years to correct the infinite “dumbness” of Reaganomics. Cheney, Rumsfeld, Perle, Wolfowitz, etc., all the same clowns ran the circus.
As deadheadzan rightly notes, controls were in effect: until Reagan. National debt went from under a trillion, to nearly six trillion,(Reagan/Bush 41) and “private” debt soared with the removal of FDIC, FSLIC, and SEC controls. We seem to have forgotten the financial disasters of the mid ‘80’s, staved off by some tax increases. Bush 43 again doubled the National Debt he took over, and did nothing in 8 years to correct the infinite “dumbness” of Reaganomics. Cheney, Rumsfeld, Perle, Wolfowitz, etc., all the same clowns ran the circus.