Regulating the Crash
There was some very smart discussion in my Keynes vs. Hayek thread about the crash and whether or not previous efforts to deregulate the financial industry led to the 2008 crash. So my question is, if the crash was not caused by deregulation, is it still possible that finance was under-regulated and that certain regulations, should they have been implemented, would have helped prevent or predict the collapse ahead of time? If so, what? If not, what’s the alternative?