We hear complaints about "deregulation" and complaints about "too much regulation". McCain has recently been criticized for his deregulation record in light of irresponsible practices in the finance sector.

I can't believe that "deregulation" means NO regulation. Regulation or deregulation is not an "all or nothing" event. Congress is the body that chooses how much to regulate. Obviously they have been regulating the wrong things OR despite the regulations, the regulators have had other priorities besides regulating effectively.

My own experience in local government taught me that, despite regulations being in place, special interests can get so ingrained in the psyche of the regulators that the regulators become impotent - they don't do their job because of political influence, aka "intimidation." Self-serving greed-induced political influence was and is pandemic - it cut across all levels and sectors of our government and private sectors. It was the weakness of human nature run amok.

Bottom line: Get the right regulation in place and let the regulators do an effective job regulating without outside influence and interference. Don't adopt laws that you don't want the regulators doing an effective job enforcing.