Commentary of the Day

chuck martel, on Peter Wehner:

Yeah, the issue is a lack of regulation. If regulation worked so well, we wouldn’t have cops spending all night tracking down drunk drivers. There are several problems with the utopian theories of regulation. First of all, who makes ‘em? Is there some omniscient Solomon that can create a risk-free financial utopia? Or even a team of them? Doesn’t seem to be any evidence of that. And if there were, could they produce an attorney’s office wall of legalese that would guarantee that Harvard Business School MBAs couldn’t come up with financial instruments that dwarf the human genome in complexity? Probably not.