I thought PG's article was pretty spot on. He wanted regulatory actions to be viewed in the broader context with an understanding of the net drag of all the re

I thought PG's article was pretty spot on. He wanted regulatory actions to be viewed in the broader context with an understanding of the net drag of all the regulations. If we could convince elected officials to do this sort of analysis, we might be able to weed out a lot of the unnecessary inefficiencies. That said, the solution to an overabundance of regulations is not necessarily to utterly eliminate them, and the lack of perfection should never be an excuse for not performing an action when the consequences of inaction are worse. I won't pretend to know what should or shouldn't have happened in the current financial crisis. My post was really directed more toward basic consumer protections -- things like truth in advertising, not selling rotten meat, being upfront about the terms of payday loans, etc.