No strings attached

Regulation is increasing, and increasingly militant

There is an old adage that says generals are always fighting the last war. If recent developments are anything to go by, it would seem as though that saying also applies to regulators. After Enron’s default in December 2001 the US capital markets were rocked by waves of revelations about corporate misdeeds that ranged from outright fraud to funny money accounting to thinly veiled conflicts of