Tim Stenovec

And as a result, people were just selling indiscriminately because they just thought the whole thing didn't even work.

I mean, one of the reasons you always see those famous pictures of people down the New York Stock Exchange in 1929.

Right.

The reason they're there, the reason they're all in the street is these are people who've come from all over New York and the rest of the country to try to find out what's happened to their money.

So that piece of it you take off the table because you can get the numbers right here and off of your terminal and everything else.

Right.

There's an SEC.

Insider trading is not legal.

It was legal then.

So all the manipulation that was taking place.

There was no FDIC.

So you had bank runs that took place in the aftermath of this crisis.

You know, we could talk about Glass-Steagall and what that either represented or didn't or whether you think it's come back or not.

But here's a bigger one.

Capital requirements for banks.

There were none.

Zero back then.

So there's a lot of reasons why

You'd like to believe that we can't have another crisis of the magnitude we did.

And by the way, it's also worth noting the crash in 1929 wasn't preordained that when that happened that we had to have the Great Depression.