• When and why did the financial services sector become deregulated, and what is the difference between the two main components of regulation, rules and enforcement of the rules?
• How does easy credit differ from regular credit and why is it the most essential ingredient for a bubble?
• What is the difference between a cash crunch and an insolvency, how does this difference determine when a lender of last resort rescues a bank, and how does such a rescue differ from a bailout?
• Do you think the reforms put in at the end of the S&L crisis will prevent such a crisis from happening again?