Just What We Need....More Regulation

I tend to agree with Professor Meltzer in this WSJ Op-Ed today. There is no way the government can possibly regulate every situation that presents itself. This part of the article is very true:

The first principle of regulation is: Lawyers and politicians write rules; and markets develop ways to circumvent these rules without violating them.

The markets ultimately dictate where investors put money. Regulation only makes the process more intensive and less efficient.