Our own Jerry O’Driscoll has in his April 20 WSJ article given an economist’s perspective on “crony capitalism,” An Economy of Liars. He argues that the current “reform bill” simply multiplies regulations in a failed regulatory environment. One reason for the failure is the incestuous relationships between regulator and regulated. Examples of regulatory failure abound. Causes are more subtle. Jerry argues for a more common law approach, an affirmatively duty to correctly represent. Let the free market and its pricing mechanism work. His article linked above is well worth the read.
Tom Motherway