>> the philosophy behind deregulation is that it works better. >> this bill represents the first step in our administration's comprehensive program of financial deregulation. >> introducing deregulation, finance began to get much more creative and profitable. >> in money matters, wall street, where leaping stocks have investors jumping. >> the dow jones industrial average will stand at its highest ever. >> the past few months have been among the wildest in wall street's history. stock and bond prices soared in a frenzy of activity. optimists on wall street are talking about the beginnings of economic recovery. >> supporters of deregulation point to the stock market as evidence that a deregulated economy makes money for everyone. >> the stock market took off like a rocket. and the public saw this happening, and they would read about it. and so all sorts of people who used to have nothing to do with