With the stock market crash of the 1920s, President Franklin Delano Roosevelt decided that the economy was massively underregulated. The idea was that if the government played a greater role in managing the economy by passing rules of the road for banks and other players in financial markets, future fiscal catastrophes and consequential mass suffering could be avoided. Aided by a compliant Congress, an alphabet soup of federal agencies was born in the 1930s.6 Federal agencies have thus been around for nearly a century, and they are here to stay—which presents a problem for someone who wants to
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