New column: Dumbing down regulation

We tried something similar with the judicial system when those pesky judges kept coming up with rulings the public and politicians didn't like. It led to the introduction of mandatory minimum sentencing laws. And now we have the highest incarceration rate in the world and 1 in 100 Americans is in prison or jail.
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People are imperfect. But they need to be part of the system or the system is either a) too easy to game or b) ridiculous.
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Its hard to get regulation right. Its hard to get judging right. We do both because they're less worse than the alternatives.

More financial regulation on the way. Does that mean the stock market will be monitored more obtrusively? Anyway, there is no such thing as a PERFECT system.

The stock market is not that cheap now if it truly reflects the real worth of each stock. The Dow index ought to be lower than what it is. There has been an element of covert speculation.

When Dow reached 14k last year before the collapse, the stock market was absolutely expensive simply because it had been crazily over-hyped.

So, when is it cheap? When is it expensive? Relatively speaking?
(Tan Boon Tee)

Have you ever read about this idea?
The “Unintended Consequences” Game
I can't make heads or tales on why anyone would think it would work, but it was food for thought.