Financial Regulation Is No Magic Bullet

“man's eye view of mansion” by Aditya Vyas on Unsplash

The cries for more regulation in the financial system are never silent. To many, “more regulation” seems a sensible, obvious thing to demand. If something is out-of-hand, restrict it! Unfortunately, things are not this simple. A patching up of the holes won’t be sufficient. What we are faced with today is an opaque financial system, confoundingly complex, and dangerously intertwined.