Reader comments: Paulson: Banking regulations need overhaul

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tcip | 4:21 p.m. July 2, 2008
Mr. Paulson assumes that regulators are smarter and more experienced than bankers. If there is a problem in the banking industry the regulators will "intervene if necessary?" What arrogance. Free markets work better than controlled markets. And free markets work best when everything is transparent. On the other hand, everything regulators do is secret, until legal action is taken, and things have to become public. When was the last time you saw the regulatory rating for a bank?

If bankers were more directly accountable to their depositors less reckless lending would take place.

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