One of of the many factors that bedevils any effort to reform regulation in the United States is an unwaivering belief that private is always better than public. This is a creed and it is certainly superior to many of the alternatives. The problem is that many Americans hold this belief with a fanatical blindness,…
In efficient markets the mistakes of individual participants are corrected by the aggregate performance of the market as a whole. But when companies become so large that their mistakes spill out into the pubic arena, requiring some kind of public intervention to repair or salvage the situation, the pubic has an interest in reducing the…
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