Financial Market Reform

As I have previously written, I am a supporter of financial regulation. I know that may conflict with my repetitive complaints about keeping the government out of financial markets. Consider this my allowance for the hypocrisy that I am constantly pointing out. Just because I support regulation does not necessarily that I want a ton more of it. We already have a lot. Like many other American laws, we just do a shitty job of enforcing existing regulation. Consider all the hype about naked short selling and the SEC’s temporary ban for a select group of financials. We already have regulation against naked short selling. We just didn’t enforce it. The danger of creating new regulation comes when everyone believes that is enough to solve the problems. In some areas, like Credit Default Swaps, we need regulation because there is none. In other areas, we had excellent regulation and got rid of it. My best example is the repeal of Glass-Steagall . I always get...