As much as the government must regulate the financial sector, the financial market’s downfall in 2008 cannot be solely blamed on government agencies. The economic policies that the united states adopt are that of the free market, where the private sector is given control over their activities and transactions (Fortes, 2020). The government involvement in the private sector’s activities in the free market is limited to providing a conducive environment that enhances ease of business. In a free market, the cardinal principle is that the private sector has to self-regulate and ensure that they abide by the set policies that ensure the market’s sustainability.
The different private sector players have a fiduciary duty of ensuring that their activities
