One definition of insanity is doing the same thing over and over again and expecting different results.
Well, today President Trump did something I think is insane, especially when one considers what happened in the past when the the financial industry was either not regulated or deregulated. (One example of what can happen in a deregulated financial industry is the financial crisis that caused the Great Recession of 2008). Do you remember how many Americans lost their homes when they were sold bad mortgages by the deregulated banks and financial institutions? According to the National Center of Policy Analysis, "As many as 10 million families lost their homes to foreclosure during the housing crisis. As a result, nearly all of them had to move."http://www.ncpa.org/sub/d...e_ID=25643
The following article details more effects of the Great Recession of 2008. http://www.ipr.northweste...inion.html
However, in the insane spirit of doing the same thing over again and expecting different results, today President Trump "ordered his Treasury Department on Friday to review measures put in place by the Obama administration, setting the stage for a rollback of regulations that were intended to curtail corporate tax evasion and prevent another financial crisis."https://www.nytimes.com/2....html?_r=0
Oh boy, how insane is that? I have a feeling it is only a matter of time before we are in another financial crisis. Stay tuned.
Read more at: https://en.wikipedia.org/..._Recession