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Miserable and Broke in the US? Blame Reagan | Dark Dives

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The Importance of Regulation in the Economy

Reagan decided to deregulate the savings and loans industry at a rapid rate. As banks began giving out loans, Americans were taking on debts that they just couldn't break free of. With no regulation in sight, this pretty much spilled disaster. After last Friday's record 108-point loss, analysts expected a rally instead.

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