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History demonstrates that government regulations have never prevented every financial crisis.

That's because if they did you wouldn't know it. If a certain regulation prevented a certain action that would have caused a recession, you would never know it helped.

I hear you, but I don't think it's relevant to OP.

I'm not arguing that some regulations aren't beneficial. Only pointing out that it's tough to argue, using history, "we had a crash because not enough regulation!!!"

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