Embed Notice

This time, the banks would behave themselves. After all, hadn't they demonstrated their prudence for seven decades?

In fact, they hadn't. Every time banks figured out how to slip out of regulatory constraints they inflated another huge bubble, leading to another massive crash that made the rich obscenely richer and destroyed ordinary savers' lives. Clinton took office just as one of these finance-sector bombs - the S&L Crisis - was detonating.

13/