Deregulation and the breakdown of standards by regulatory bodies were significant contributing factors to the financial crisis.

“And deregulation was a big part of the crisis. Nobody wants to say that. Or just lack of regulation. The Fed and Bernani and Greensman have both said this. The Fed had the authority to write lending standards, mortgage lending standards for the entire industry.”

The economy functions best with decentralized decision-making rather than centralized government management, though limited government intervention is acceptable in specific areas like national securi

“I generally I think um the economy does well without centralized control, centralized management of government dictates.”