Capture is part of regulation itself

Here’s a letter I sent to the WSJ about a week ago by D. Pontoppidan, Summer Fellow at the Mackinac Center Thomas Frank [“Obama and Regulatory Capture, June 24] calls the present moment a time “for a ringing reclamation of the regulatory project.” To protect consumers, he argues, we need regulation, and better people in…

Financial innovation comes from trial and error

By D. Pontoppidan*, Summer Fellow at the Mackinac Center Here’s a letter I sent to the WSJ a couple of weeks ago: We’ve recently heard of a new federal financial consumer agency which will have the power to scrutinize complex financial products, fit them with warning labels much like cigarettes or toys digestible by small children,…