And on a related note: The obvious alternative is regulation. Consider this amusing/depressing look at why Wall Street regulation (as it stands) is a spectacula

And on a related note: The obvious alternative is regulation. Consider this amusing/depressing look at why Wall Street regulation (as it stands) is a spectacular failure, consider this article in the Wall Street Journal: http://online.wsj.com/article/SB10001424052970204485304576641271880445798.html?mod=googlenews_wsj http://online.wsj.com/article/SB1000142405297020448530457664... Select quotes: "In 298 pages, rather than sketching out simple, clear rules for banks to follow, regulators essentially wonder out loud how they can possibly write this rule. Officially there are 383 questions posed in the document, but many of these questions have multiple parts... Bank lobbyists are certainly eager to provide some hand-holding." "Dodd and Frank punted this one to the executive branch, invested federal agencies with new authority, and expected the same regulators who failed to prevent the last crisis to somehow avert the next one." "Until the government is willing to create a durable financial system that allows failure, the best policy response is to make the rules so simple that even Washington can enforce them."