Presidential campaigns are not ideal times for overhauling regulatory systems. If recent stump speeches are any guide, both major party candidates would go after those greedy SOBs on Wall Street. I think they both know better, and Barack Obama has the good fortune of being on record saying so.
At least we are no longer talking about cosmetics. These are serious times, indeed, so much so that I hate to echo a feel good (and, yes, liberal) Hollywood movie. And yet I find myself thinking a lot about David Brooks' article on nuance and prudence. Given the complexity of modern financial markets and the risk of unintended consequences, don't we want thoughtful, reflective people in charge?
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