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@vinylvillain
Regulators and Government allowed teh bankers, and the public at large, to live on the wave of a limitless credit boom.
If they had had tighter rules and regulations in place, then we wouldn't have seen this happen.
However tighter rules and regulations don't win votes, and as political parties are more concerned with staying in power, than making any meaningful social change theses days, they tend to come up with short term policy to ensure power, than long term policies encouraging social and financial stability