Tuesday, December 16, 2008
Regulation vs Deregualtion - quoted from bloomberg
"Both Franklin Delano Roosevelt in the 1930sand Ronald Reagan five decades later saw an economic crisis as an opportunity to make major changes. Roosevelt, in response to the Great Depression, created Social Security and fedearl deposit insurance. During teh 1981-82 recession, Reagan set out to reverse the centralization of power in Washington tha was at the haert of the Roosevelet revolution; he usered in a quarter century of deregualtion. "Most politicians are incrementalists," says presidentail historian Richard Nortonn Smith. "Reagan was no incrementialist. He took advantage of the dire cicumsances inerieted, and he saw them as justificaion for significantly if not radically different policies." Heidi Przybyla " Why Obama won't bash Wall Street"