Shiller flips his lid

Using Shiller's point, the FDA should promote the drugs they test. I guess he didn't see the famous OTS picture http://www.propublica.org/images/articles/ht_regulations_cut_081125.jpg http://www.ft.com/cms/s/0/c4a74ba2-ab83-11de-9be4-00144feabdc0.html Thus, to facilitate financial progress, we need regulators who ensure trust in sophisticated products. They must work towards clearing the way to... [more]

Using Shiller's point, the FDA should promote the drugs they test. I guess he didn't see the famous OTS picture http://www.propublica.org/images/articles/ht_regulations_cut_081125.jpg http://www.ft.com/cms/s/0/c4a74ba2-ab83-11de-9be4-00144feabdc0.html Thus, to facilitate financial progress, we need regulators who ensure trust in sophisticated products. They must work towards clearing the way to widespread use of better products, concerning themselves with both safety and creative ideas. They must not simply be law enforcers against the shenanigans of cynical promoters, but also be open to making complex ideas work that have the potential to improve public welfare. Unfortunately, the crisis has sharply reduced trust in our financial system. [less]