March 18 (Bloomberg) -- One of the oft-repeated
justifications for why Wall Street must be regulated by Wall
Streeters is that what goes on there is both so complex and so
essential that only those who have been part of it can be
trusted to oversee it.
This argument is bunk, of course. It’s nothing more than a
way for the financial institutions, and the many Washington
politicians who benefit from their considerable largesse, to
make sure the status quo gets maintained.
