Comment Comment by pytester >Regulations lead to lobbying. And lobbying leads to corruption.Capitalism is a prerequisite for lobbying. Regulations are not.>For instance the financial crisis. One big reason for this was regulations forcing banks to make awful loans in Bush’s “ownership economy”.This is bank propaganda. It's been debunked countless times:https://www.forbes.com/sites/eriksherman/2018/05/06/the-lie-...>This led to a situation where free market products (mortgage backed securities and derivatives) were corrupted with so many bad loans.The bad loans were made by people who knew exactly what they were doing. It was a form of control fraud (sometimes called "bankruptcy for profit"). parent pytester 7 years ago
Capitalism is a prerequisite for lobbying. Regulations are not.
>For instance the financial crisis. One big reason for this was regulations forcing banks to make awful loans in Bush’s “ownership economy”.
This is bank propaganda. It's been debunked countless times:
https://www.forbes.com/sites/eriksherman/2018/05/06/the-lie-...
>This led to a situation where free market products (mortgage backed securities and derivatives) were corrupted with so many bad loans.
The bad loans were made by people who knew exactly what they were doing. It was a form of control fraud (sometimes called "bankruptcy for profit").