Regulation Is Not The Answer (mostly)

There's a strong piece on the Times' Freakonomics blog today about why de-regulation of the financial industry was largely a good thing and re-regulation has real dangers. I'm in favor of stronger disclosure/transparency regs, particularly if uniformly applied and thus cheaper to comply with and easier to track and interpret. But ones that stifle financial product innovation are still -- and always will be -- a bad idea. I believe that puts me in accord with John McCain circa February or March. I suppose we'll find out tonight or at a future date whether he still agrees with me (and/or is still willing to say it).