The "lost decade"

In addition, we haven’t had this type of national ban run and failure crisis since the modern federal banking deposit insurance and regulations system was established

national ban run and failure crisis?

2008 was probably the closest to that

yeah the 2008 crash was caused by a regulation

and cheap credit policies

But still not a failure of the traditional banking system, rather the investment banking system

It was caused by not enough regulation

I'd say a failure of central planning

central banks

It was CHAD

The CRA ( community reinvestment act). The CRA evolved through times and got hard pressed by regulators over the years until in 2008 it all popped.
This was a regulation that forced banks to give loans out to people who couldn't pay it back. This led to bad loans being created which caused a boom and bust.

Not against normal banks, but central banking

things like the FED should not exist

It was caused by banks trying to fulfill a new demand from both the government and investors of loaning to low-income households

The whole reason they lent to low income households was the government itself

and not to mention the cheap credit

2 things that caused the crash

You can’t really pin this all on the government

Not repealing of any regulation

Theres nothing else I can blame

It was overwhelmingly a private search for additional profit

Well they were hard pushed by regulators to make these loans

Miscalculation by financial institutions is what is to blame for most, not all, of the crisis

Not hard pushed

They wouldn't have if they weren't regulated.

Extremely hard pushed

What even is this debate about, whether regulations are good or not?

regulators got tighter and tighter

2008 crisis

Oh

He’s arguing against regulations because they encourage things that regulations prevent

I saw the big short so I am informed 😉

The big short missed many things

infact it didn't tell the real story

It missed the CRA

and the fed rates

@Leo (BillNyeLand) Not because of that

it's because regulations do harm

most of them

How many books do you read per year