On deregulation, it worked great for trucking and airline prices but deregulating the S&Ls was a major cause of the 1980s real estate boom & bust, and the S&L recession. And not regulating crazy mortgages in the 2000s was a major cause of that real estate boom and bust, and the Great Recession.

When it comes to deregulation, financial services are different because they have downsides that don’t show up for years. Banking and financial services are not like the trucking and airline industries.