Not long ago I was watching a news program discussing the outlawed bucket shops of old, their role in the crash of 1929, and comparing their role at that time to the present trading in some financial instruments. The implication is that the government never learned their lesson and thus our present financial crisis.
From the link:
At the moment I can’t get my head around whether what’s happening today is a result of the kind of betting on financial instruments that occured back then and was subsequently outlawed.
Can you help me out?