

The Great Clash of '09: A looming battle over re-regulation  - tokenadult
http://www.newsweek.com/id/176830/output/print

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quoderat
More regulation may be needed, but I'd be satisfied with enforcement of
existing regulation -- which was completely and utterly neglected during the
Bush administration, but that began during the Clinton administration.

The financial crisis was caused by more than lack of, and lack of enforcement
of, existing regulation, but that was certainly a large part of it.

The root of the crisis, though, was an orgy of greed and profligate avarice
that consumed American society at all levels and we will be paying the price
of that for a while.

The blame is spread out over so many parties that it doesn't really matter who
we blame. It's all valid.

~~~
jerf
"The financial crisis was caused by more than lack of, and lack of enforcement
of, existing regulation, but that was certainly a large part of it."

Actually, that's something that regulation proposals need to address, which is
that regulatory resources are already stretched _well beyond_ the breaking
point. How will loading _more_ regulations onto the system really help?
Regulations need to get smarter, not merely more numerous.

The current answer of SOX seems to be to offload regulation onto the companies
themselves, but above and beyond the fact that the regulatory burden doesn't
really belong there (per the trickle of "SOX is bad, mm'kay?" stories you see
on HN), increased self-regulation is inherently problematic.

