Congress Should Use A Lifeline

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In democracies like the US, the will of the people is supposed to at least help determine the country's direction. It's part of the culture and manifests itself in a variety of places. Take, for example, Who Wants to Be a Millionaire. When you run into a tough question you have the option of finding out what the majority thinks by asking the audience. Congress may want to consider applying the same methodology to the tough question of how much financial regulation to introduce.


Back in the more panic-stricken days of last December, 67% of those surveyed in a poll conducted for Public Strategies and Politico subscribed to the more is better philosophy of regulation. But after a 60% gain in the equity indices since March, that number has been reduced to 32%, with 68% of respondents opting for enforcement of existing regulations. While it's reassuring to learn 2 out of 3 people believe the financial system already has enough regulation in place, the real issue is whether or not Congress can restrain itself when it counts. If the answer is 'no', the million dollar question may turn into the trillion dollar problem.
Americans say there's enough financial regulations: poll [Reuters]

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