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Are We Too Late?

The Important Lessons of the Great Depression Revisited

Surprisingly, the regulatory structure that led the way to the Depression is very similar to the structure that appears to have caused our ongoing economic meltdown. While the current state and federal governments have thousands of more laws and regulators than were extant during in the 1930s, they have failed to effectively police the stock, real estate, and commodities markets—and there is no legitimate excuse for this failure.

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