"I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit."

Source : "Reagan-Appointed Judge: Deregulation Movement Made ‘A Fundamental Mistake’". www.huffingtonpost.com. August 24, 2012.

Bill O'Reilly

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