2008 financial crisis on steroids? Peter Schiff believes it will get worse this time due to too many regulations.
, we were assured that what is happening right now would never happen again. But one reason we had the 2008 Financial crisis was too much Govt. regulation. That's why this crisis will be worse.Schiff highlighted how the US government introduced new banking regulations after the 2008 financial crash while promising that “what is happening right now would never happen again.” He added:
“But one reason we had the 2008 Financial crisis was too much Govt. regulation. That's why this crisis will be worse.” Finding the right balance between regulations and banking institutions is important for Schiff, considering thatDespite no evidence of crimes, Puerto Rico regulators closed my bank anyway for net capital issues, rather than allow a sale to a highly qualified buyer promising to inject capital far in excess of regulatory minimums. As a result accounts are frozen and customers may lose money.
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