The Failure to Apply Regulation, to Apply the Law

Greed people will only commit fraud if they feel that their misdemeanour is unlikely to be noticed or severely punished. In the united states, the list of those who 've been sent to jail for their part in the housing bubble and all that followed from it, remains laughably short. Instead of exhausting ourselves drawing up hopelessly complex codes of macro prudential or countersyclical regulation, let us go back to badget's world where individual prudence was the advisable course. The authorities were powerful and the crucial rules unwritten.