The Obama administration is expected today to propose a reorganisation of the way we regulate financial markets. I am not an advocate of too much regulation. Having gone too far in deregulating – which contributed to the current crisis – we must resist the temptation to go too far in the opposite direction. While markets are imperfect, regulators are even more so. Not only are they human, they are also bureaucratic and subject to political influences, therefore regulations should be kept to a minimum.
奥巴马政府将提出一项金融监管改革方案。我不提倡实施过多的监管。在“去监管化”的道路上我们已走得太远——这是当前危机的诱因——目前我们必须克制冲动,避免在相反方向上又走过头。尽管市场存在缺陷,但监管机构更是如此。他们不仅是普通人,同时还是官僚,容易受到政治影响。因此,只应该维持最低限度的监管。