Professor William Black:

When we saw that in the United States, we acted immediately. Within a year of a deregulation law, in our context, which was 1982, there was a full-scale re-regulation of the industry, over the opposition of the Reagan Administration, over the opposition of a majority of our House of Representatives, who co-sponsored a resolution telling us not to re-regulate the industry, and over the opposition of the Speaker of the House, who is the second most powerful elected-----