Fiscoimmunity
Fiscoimmunity October 24th, 2008 There has been much discussion recently about the proper role of government in regulating financial markets. As we know, the regulatory doctrine of the Bush administration was an absolutist “less is more”. And as we know, this doctrine has led to catastrophic failure. Specifically, there was no mechanism whatsoever for any regulatory agency to even be aware what transactions were taking place as one entity made a deal with another to take bets on the outcome