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SamuelRSmith said:

 

 Yes, it is, but this credit problem is something that has happened on top of the regular cycle, making the recession far worse than what it could have been. Regulating credit control can help the economy overall, help people become happier, and can make the next recession far easier to get through.

EDIT: Forgot to add "imo"

We'll never know. The deregulation way has never been tried - governments always give in about now in a recession.