An outgoing SEC commissioner just dropped a bombshell on her way out the door. She's drawing parallels between current Wall Street deregulation moves and what happened right before the Great Depression hit. Not exactly a subtle comparison.

Her farewell memo? It's loaded. Concerns about crypto oversight getting gutted. Transparency measures being rolled back. And here's the kicker—the SEC running on fumes with a skeleton crew trying to police increasingly complex markets.

The timing feels deliberate. As regulatory frameworks shift under new leadership, someone who's been in the trenches is basically saying: "We've seen this movie before, and it doesn't end well." Whether it's crypto platforms operating in gray zones or traditional finance testing boundaries, the warning is clear.

What makes this interesting isn't just the doomsday rhetoric. It's that she's pointing to specific rollbacks—the kind that historically precede major market disruptions. The crypto angle matters because that's where regulatory ambiguity already runs deepest. Combine loose oversight with an understaffed watchdog? Recipe for chaos.

Markets might cheer short-term deregulation. But someone who spent years navigating financial crises just issued a loud exit alarm. Take it however you want.