The Tom Wood Show, episode 1908.

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

Your daily dose of liberty education starts here. The Tom Wood Show.

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Hey everybody, Tom Woods here. All right, now today we're going to get into the details that I

have not covered very much in the nearly 2000 episodes of the Tom Wood Show. Maybe a little bit here

in there. But what I want to do today is address specifically the claim that deregulation

is what caused the financial crisis of 2008. And I want to go into the specifics of what that

claim amounts to. Now most people who make this claim honestly have no idea what they're talking about.

If you were to say to them, name me a repealed regulation that would have prevented this crisis.

They have absolutely no idea what to say. The more advanced ones might say something about

the repeal of Glass-Steagall quote unquote. And what they mean to say is the partial repeal of

Glass-Steagall. We'll talk about that. But in general most people don't even know an answer. And if

they do have an answer, their knowledge is sometimes people say, mile wide and an inch deep.

This is like an inch wide and an inch deep. If you were to follow up with them, they really have

nothing to say. So I want to arm you with the ammunition that you would need in case you find

yourself in this discussion. But also just to make clear how misleading to put it mildly,

the conventional wisdom about this is. And it goes to show why it's so important to smash

...