Regulations necessary to keep institutions honest

For one who is bored to tears from hearing about businesses that are “too big to fail,” I actually stood up and applauded a couple of weeks ago when I read in the newspaper that FDIC chairman Sheila Bair told Congress that a new system of supervision was needed to prevent institutions from taking on excessive risks and growing so big that their failure would threaten the financial system. It’s too bad the country had to be drawn into a recession before somebody in the right position figured that out.