Regulation and Its Unintended Consequences | Cato Institute

Regulation and Its Unintended Consequences | Cato Institute: "There are 39,000 individuals working full time to regulate the financial markets in the U.S. alone. What did they do when the bubble was inflated? Well, they helped inflate it."

"One former SEC commissioner admitted that his agency failed to develop open marketplaces for mortgage-backed securities because it was “distracted.” The object of its time and resources: grabbing power from other government agencies by starting to regulate hedge funds and introduce new types of supervision of mutual funds."