Quote Originally Posted by aprasad View Post
Cut-backs in needed regulation (coming from political philosophy "Leave it to the market to self-regulate") can lead to economic problems.

Remember, Enron lead to Sarbanes-Oxley Act.

BTW, the Fed is now proposing regulations of the sub-prime lending standards.
Except Sarbox had nothing to do with the "free market", per say, as opposed to (enhancing or establishing) accounting regulations.