Viewpoint: Maybe We Need Regulation, After All

It turns out that there was a reason that the Federal Deposit Insurance Corp., the Securities and Exchange Commission, and the Glass-Steagall Act were put in place in response to the Great Depression.

There should now be general recognition that a mechanism to govern the animal spirit of capitalism at highly levered financial institutions is needed to prevent them from getting out of control and crashing the economy, as they have now done.