Lots of buzz this week about the unveiling of the New Financial Regulations.
I actually believe that we do need much better regulation of firms that pose a systemic risk to the economy. It would be nice if there were no firms in a position to do as much damage as AIG has done, for example, but there are so we need to deal with it.
The question for me is whether we are about to end up with a whole new set of regulators who miss some of the biggest issues until it's too late. I hope this ends well, or at least gets us to a better spot.