Deregulation
From Recessipedia
In general usage, deregulation refers to any policy that reduces the regulation of an industry, including the financial services industry.[1]
In the wake of the subprime mortgage crisis, critics of capitalism and free markets began to use the term as a catch-all phrase referring to the repeal of the Glass-Steagall Act's prohibition on the separation of commercial and investing banking, accounting reforms, and other recent changes to America's regulatory system. [2] Many such observers call for re-regulation, or increasing the amount of financial system regulation. Conservatives of course demur. [3] Politically neutral scholars, by contrast, have been calling for more effective regulation rather than deregulation or re-regulation per se.[4]
Notes
- ↑ Robert E. Wright and Vincenzo Quadrini, Money and Banking (Flat World Knowledge, 2009): http://www.flatworldknowledge.com/pub/1.0/money-and-banking/financial-system/financial-intermediaries
- ↑ Robert Weissman, "Deregulation and the Financial Crisis," Huffington Post (22 January 2008). http://www.huffingtonpost.com/robert-weissman/deregulation-and-the-fina_b_82639.html
- ↑ R. M. Schneiderman, "Did Deregulation Cause the Credit Crisis?" New York Times (October 8, 2008): http://economix.blogs.nytimes.com/2008/10/08/did-deregulation-cause-the-credit-crisis/.
- ↑ Viral Acharya and Matthew Richardson, eds., Restoring Financial Stability: How to Repair a Failed System (Hoboken, N.J.: Wiley, 2009): http://www.amazon.com/Restoring-Financial-Stability-Repair-Finance/dp/0470499346
