Glass–Steagall in post-financial crisis reform debate: https://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_in_post...
(Edit: Monetary policy / Monetarism > Current State , Liquidity trap > Global financial crises of 2008 and 2020: https://en.wikipedia.org/wiki/Liquidity_trap )
How do microlending and DeFi rates democratize subsidized capital availability?
From IL-RFC-1 Interledger Architecture https://interledger.org/rfcs/0001-interledger-architecture/ :
> Settlement for one account MUST NOT depend on the status of any other accounts.
> If settlement of one account in the Interledger is contingent on the status of another account or relationship, this could create the threat of cascading risks and failures, similar to problems that occurred during the 2008 global financial crisis. Nodes can protect themselves from such risks by choosing to use settlement technologies such as collateralized payment channels where available. These types of arrangements can provide high-speed settlement without a risk that the other side may not pay. For more information on different ledger types and settlement strategies, see IL-RFC-22: Hashed Timelock Agreements.
> Nodes can also choose never to settle their obligations. This configuration may be useful when several nodes representing different pieces of software or devices are all owned by the same person or business, and all their traffic with the outside world goes through a single “home router” connector. This is the model of `moneyd`, one of the current implementations of Interledger.
It was created in response to the Great Depression, then repealed by the Gramm-Leach-Bliley act because money. Then the Dodd-Frank act tried to have it reinstated but failed, also because money.
You may already be familiar with all of this but mentioning in case you’re not.
(https://en.m.wikipedia.org/wiki/Glass–Steagall_legislation)
There’s a quite brilliant documentary that came out in 2010, Inside Job, that covers this, but which was completely overshadowed by the much less informative The Big Short which came out 5 years later.