Strict federal government regulations have never worked as advertised. There are too many agencies working with conflicting objectives.
Under the Dodd-Frank regulatory fiasco, with the Treasury and the Federal Reserve in charge of all the banks and other financial companies and institutions, we have an addition to the meddling fiasco.
SEC duties are also expanding to where their whole administration has to be revamped. They did a poor job well before their duties were broadened.
Transparency with less heavy-handed regulation always works better. However, that is a matter of political talk more than practice. Transparency is what politicians mention only in their promises. ( See the Earl J Weinreb NewsHole® comments.)
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