tag:blogger.com,1999:blog-7464708.post3543559262219296266..comments2024-03-22T06:05:36.544-04:00Comments on Kids Prefer Cheese: Dodd-Frank Causes Much More Harm than HelpMungowitzhttp://www.blogger.com/profile/02340064320347875601noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7464708.post-40889103315004563302012-06-23T22:01:21.846-04:002012-06-23T22:01:21.846-04:00The regulation of banks in the 19th and early 20th...The regulation of banks in the 19th and early 20th century was done by the states. The repeated financial crisis that occurred in the period was the reason the Federal Reserve Act was written in 1913. Decentralized regulation did not work well at all actually. Banks may have had regulation on the books in the states; however, the actual supervision and regulation by the states was very slack and corruption was pervasive. Mike, do really believe that the last crisis would have occurred without the repeal of Glass-Steagall and the commodity futures modernization act? <br /><br />JayAnonymousnoreply@blogger.com