The business of regulation is a delicate balancing act. Regulations are necessary to balance the competing interests of the different stakeholders in society. Over-regulation can impose unnecessary costs on businesses and stifle innovation. Under-regulation, on the other hand, lowers the welfare of the public by failing to take into account negative externalities. The call for more regulation often follows a crisis that shatters public confidence in the proper functioning of markets. It is not surprising that in the aftermath of the financial crisis, many in the US and Europe support increased government regulation of the financial sector. While this may not be a bad situation for lawyers; after all, it has been said that lawyers love regulations, the more complex and baffling, the better; it is in times like these where clear headed thinking to strike the right balance is even more important.