There was certainly not “truly no regulation”. The Federal Reserve system had already been well established, and the government at the time of the Great Depression actually made it worse with stupid protectionist policies that caused prices to actually rise. And the New Deal was not effective; WWII and the market’s natural tendency to recover pulled the U.S. out, not any policies of the New Deal.
And FTR, I still oppose the current bailout, even though it’s already too late.
Valete,
Vox Imperatoris