Comments by "Persona" (@ArawnOfAnnwn) on "The 1997 Crisis: The Greatest Asian Crisis in History? - VisualPolitik EN" video.

  1. And that, friends, is why it's important to have effective regulations. This is especially directed at the ancaps who continue parroting the idea that govts. should completely leave the markets to do whatever they want. Regulations, standards, reporting, audits and the like are how we try to ensure modern finance doesn't operate like the wild, wild west. Cos fyi, the wild west wasn't really a great place to live in.
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  2. The Fed did what it's meant to do. The problem lies with ineffective regulations, which allowed vulnerability to build up to begin with.
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