regulatory system was a step blish banks were regulated the commercial investment banks were separated cut back or risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation by the one nine hundred seventy s. that changed. you started getting that huge increase in the flows of speculative capital just astronomically increased an enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in the choice of directors so a director of a major american corporation back in the fifty's and sixty's was very likely to be an engineer as somebody who graduated from a place like mit maybe industrial management more recently the directorship in the top managerial positions or people who came out of business schools learned financial trickery of various kinds and so on. by the one nine hundred seventy s. sa