Golden Finance reported that according to the Financial Times, the outgoing chairman of the U.S. Federal Deposit Insurance Corporation (FDIC) warned that if the Trump administration cuts bank supervision too aggressively, the U.S. financial system may pay a "high price." “Short-term changes aimed at achieving short-term results in finance can incur real costs and undermine our long-term goals in a way,” said Martin Gruenberg. His warning came as President-elect Trump It has vowed to cut rules and bureaucracy as part of a plan to boost the U.S. economy, while its allies have expressed interest in streamlining U.S. financial regulators. Gruenberg said the United States remains vulnerable to the same combination of problems that led to recent major crises, including the savings and loan collapse of the 1980s, the 2008 financial crisis and regional bank runs in 2023. In each case, deregulation and regulation enabled the rapid growth of new products and non-bank financial companies that turned out to be riskier than anticipated. "It's important to note that history will repeat itself," he said. "I'm worried that we will have to pay a heavy price again."