The real estate bubble and the financial crisis in 2008 that followed was due to oversight failure, pure and simple. Rather than address that failure, the government bailed out everyone.
Of course there will still be fraud, but enforcement of regulations provides powerful disincentives to cheat. Right now it's wild west, and when systemic risk shows up, the Fed bails everyone out without consequence.
Regulations would help if they were truly enforced and, in the case of fraud, criminal charges were pursued. White collar prosecutions are so rare, there is no longer any real deterrent.
This is a regulatory oversight problem, pure and simple, and it has existed forever. The incentive structure is far too conflicted for self policing. See also: ratings agencies.
Roku has been doing that forever, and now all those cheap TCL TVs are doing it too. Keep this in mind, especially if you use one of these in a productivity context.
That, and the delegation of rulemaking by lawmakers to "unaccountable, unelected bureaucrats" within state agencies. Term limits will accomplish the opposite of the stated intent.
Well, the author is a pro telcom lawyer and law professor at UPenn. Here's an amicus brief he filed asking the court of appeals to reconsider their order classifying ISPs as telecom services (net neutrality):
>What is "success"? Is it better looking houses? More expensive cars? Fresher food?
You need to think much more basic than that: Success is having a savings account, a roof over your head in a safe stable location so the kids can stay in the same school, reliable transportation, and a job that provides enough income for all of the above.
https://arstechnica.com/information-technology/2023/07/typo-...