Customer Quote by Don Watkins
““All of these agencies were enormously active during the so-called laissez-faire era. As the former CEO of BB&T Bank John Allison notes, “Government spending alone . . . on financial regulations (not company bailouts) increased, in adjusted dollars, from $725 million in 1980 to $2.07 billion in 2007.”41 Meanwhile, between 1980 and 2009, for every one instance of financial deregulation, there were four instances of new financial regulation.42 It is one thing to claim that regulators didn’t do their job during the last few decades, or that the government should have placed even more regulatory restrictions on the financial industry—all that is debatable—but it is quite another thing to describe the last few decades as a time when financial markets were deregulated, let alone unregulated.43””
About This Quote
Source Book: Financial Regulation History, 2020
The quote argues that despite claims of deregulation, financial regulation actually increased significantly from 1980 to 2007, with many new rules introduced.
In simple terms: Regulation grew despite claims of deregulation.
Key Takeaway
Recognize that regulation often expands even when perceived otherwise.
Themes
regulation
economics
policy
history
government
Mood
analytical
critical
informative
Type
explanatory
historical
policy‑analysis
When to use this quote
- academic research
- policy analysis
- financial industry
- government budgeting
Key Concepts
Regulatory dynamics
public perception
policy cycles
Questions to Reflect On
- How do we measure true regulatory change?
- What drives cycles of deregulation and regulation?
A Different Perspective
Regulatory impact can be obscured by political narratives.
