The Deal New regulated banks, transportation, and energy among other industries, in the 1930s. In the 1970s, there was a mostly bipartisan effort to reduce regulation in those industries. Although Ronald Reagan is known as the deregulation president, it was Jimmy Carter that started deregulation in each of those industries. Alfred Kahn, whom Carter appointed to lead the Civil Aeronautics Board (CAB), together with recently retired Supreme Court Justice Stephen Breyer, advised Senator Ted Kennedy on how to deregulate airlines. The deregulation of truck, railroad, bus, and transportation, along with natural gas deregulation, followed. Deregulation was based on policy evidence that changes in those industries made it possible to lessen regulation and depend on markets to achieve greater efficiencies. By comparison, Congress decision to reduce regulation of savings and loan banks, based on industry lobbying, ended in disaster as S&Ls failed because of risky behavior and Congress had to bail them out. On balance, the regulation that occurred rebalanced the mix of government and markets in order to achieve a more robust economy.