20/20 New York Hindsight

Only four years too late, the New York Times has an article on the SEC CSE regime and how it didn't do enough to constrain the broker/dealer's risk taking. It's nice the Times is finally getting around to this kind of thing, but no one was interested in financial regulation and the scandal that was the US broker/dealer capital regime when there actually were some big broker/dealers around to take advantage of it.