Commentary

“How Did the Regulators Miss This?”

By Timothy H. Lee
Thursday, July 19 2012

Is that not our eternal lament? We refer derisively to World War I as “The War to End All Wars,” because it obviously wasn’t. As British Prime Minister David Lloyd George reportedly observed, “This war, like the next war, is a war to end war.” The same is true of the regulatory state, and unending attempts by some to expand it. Two new scandals – Barclays and Peregrine Financial Group – once again bring that into relief. The tragic Peregrine tale stems from the collapse of the commodity brokerage firm and the attempted suicide…

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