Sunday, January 31, 2010
Populist Retribution and International Competition in Financial Services Regulation, by Adam C. Pritchard
University of Michigan Law School, was recently posted on SSRN. Here is the abstract:
This essay compares the current effort to reform financial services regulation with the regulatory initiatives that come out of the Great Depression. Unlike the 1930s, policymakers today must account for the impact of regulatory competition in crafting responses to the financial crisis. The available evidence suggests that jurisdictional competition is no match for the forces of populist retribution in modern democratic states.