Historically speaking Wall Street banks are indeed being stifled by burdensome regulations in the aftermath of the 2008 crash, but the kinks will eventually be worked out, said Richard Farley, author of ‘Wall Street Wars.’ Farley added that another crash will indeed happen again because it is impossible to control irrational exuberance when it is coupled with huge amounts of capital. He said the parallels between the Pecora Commission of 1932 has tight parallels to the hearings held in the wake of the Great Recession because in both cases unknowing politicians were blamed for the financial disaster.
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