Should Financial Markets Be Regulated?

The mortgage market was highly distorted by the so called government sponsored entities, fanny may and freddye mack. The only chapter in this history that really fits the blame dregulation thesis is the non regulation of the market in the derivatives such as credit default swamps. I believe excessively complex regulation is the disease of which it purports to be the cure. Dodge frank is a near perfect example of excessive complexity in legislation. We cannot control ourselves. You have to step in and control wall street. Those were the words of john mack, former executive of the investment bank morgan stanley, speaking here in new york in november two thousand nine. Congress obliged m