The Tom Woods Show, episode 1321.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

Folks, here it is 2019, and people still think, so-called deregulation caused the financial crisis of 2008.

This cannot be smashed hard enough.

Check out my free e-book, The Deregulation Boogieman, over at Regulation Myths.com.

Hey, everybody, Tom Woods here.

Glad to be joined once again by Peter Wallason, whom we've talked to a number of times in the past.

He is the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute,

and he's a real expert on financial regulation and deregulation. He was a dissenting member of the 2010 Financial Crisis Inquiry Commission,

where he took the position that it was the

government that was the primary culprit in the housing boom and bust and what followed.

He obviously was dissenting from the standard view that this was capitalism run amok.

So he did heroic work there.

We've talked to him about the Dodd-Frank Act and his

criticisms of that. He is a graduate of Harvard Law School. He's widely published. He's a frequent

contributor to the op-ed pages of the New York Times, the Wall Street Journal, and the Financial

Times. But today we're talking with him about a different topic because he's out with a new book on the administrative state.

We're going to talk about what that is.

But what we've got are all these federal agencies that, in effect, are making law.

And sometimes they are doing things that are clearly contrary to statutory language.

And yet they're making law and they're very hard to rein in,

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