Do you not acknowledge that there were unintended consequences of deregulating the national banks to permit mergers between banks and all different sorts of financial institutions, for instance?

Acknowledge it?  Heck, I'm the first to admit that.  (it didn't help that at the same time, lenders were being pressured (er-encouraged) by the GSAs to write loans to people whom they knew couldn't afford to pay them back.  But that's a subject for another day.)

I'm not naive enough to think that "no" regulation is the answer.  A certain amount of regulation is always a necessary evil.  But when you start piling on layers upon layers of bureaucracy, you end up defeating your own purpose.  Nothing wrong with good intentions, but it's results that matter.

Regards,
Scott Perry