Recent developments in the U.S. financial services industry suggest more regulation was needed when banks were offering low-interest mortgages and investment firms developed complex financial schemes. Will elected officials be able to resist the opponents of regulation? Will such regulations be a drag on the economy? Or should capitalism’s “highs” be more closely tethered to avoid what seem to be the inevitable hang-over?
Does our banking system need more regulation?
Posted Sept. 18, 2008, at 3:58 p.m.