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US reportedly plans to slash bank rules imposed to prevent 2008-style crash
(www.theguardian.com)
this post was submitted on 15 May 2025
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let me tell you, i currently work at one of the companies that caused the crash and we don't abide by those rules anyway. during my training they were like "okay, the analytics side and the [other] side aren't allowed to talk business with each other, because of seperation laws put in place after 2008. obviously everyone does it, but don't do it over official channels ;)". there was also a LOT of training on what we could legally accept from/give to potential clients without it technically counting as bribery.
disclaimer:
i'm not actually a finance bro, i'm leaving next month to my phd in enviroment science. i just happen to know the dark arts nowDid anybody make any rules to prevent a 2008-style crash? I thought it was a bail out and then right back to it.
Dodd-Frank was actually a pretty major piece of legislation which implemented a bunch of regulations that effectively limited the sort of foolish and predatory behavior that directly led to the 2008 crash.
A huge chunk of these regulations got gutted back in 2018, and this recent push is intended to largely eliminate the rest.