In this episode of Money Lessons, Andy explores the historical context and implications of the bond market collapse during the Great Depression, the subsequent regulatory reforms, and their lasting impact on today's financial landscape. He discusses the failures of the credit rating system, the introduction of the Trust Indenture Act of 1939, and the significance of the Glass-Steagall Act in protecting investors. The episode concludes with a reflection on the ongoing debate surrounding regulation in financial markets.

In this episode of Money Lessons, Andy explores the evolution of sovereign debt from its early origins in ancient Mesopotamia to its transformation into a systematic foundation for modern nation-states. 

He discusses the role of the Fugger family in early sovereign lending, the impact of the Glorious Revolution on government borrowing, and the establishment of the Bank of England, which revolutionized the way governments manage debt. Temte emphasizes the importance of institutional credibility in sovereign lending and warns of the risks of complacency in borrowing practices.