Friday, April 26, 2013

Too Careful Regulation Breeds Too Many Crooks

......The regulator is more concerned about risk management and prevention of scams than about the sector’s growth. Therefore, nobody is responsible for the large scams happening outside the regulatory ambit. Allow the regulated sector to grow faster — and be prepared for the small problems that come up with it. That is any day more financially prudent than allowing a fast-growing economy’s needs to be met by an unregulated sector.............

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