Posted 3:40 PM by Gene

In view of the tremendous losses suffered by the general public, there is a real danger that excessive deregulation will be succeeded by punitive reregulation. That would be unfortunate because regulations are liable to be even more deficient than the market mechanism. As I have suggested, regulators are not only human but also bureaucratic and susceptible to lobbying and corruption. It is to be hoped that the reforms outlined here will preempt a regulatory overkill.

True enough, we suppose; but you have to wonder why George Soros, preeminent sufferer of BDS, gave so much money to forces that may now punitively reregulate the economy. Certain it is, though, that we cannot expect a happy medium from a system that alternatively gives us CDOs and SIVs and Great Depressions.

(Via Seeking Alpha)