The Leading Men of Regulation: Geithner, Dodd, Frank to Play Big Role in Crafting Finance Rules Behind the Scenes

The Wall Street Journal reports:

Three men burnished and tarnished by the financial crisis are expected to wield disproportionate influence over Congress's final push to write a new law for financial regulations.

As Professor Thomas DiLorenzo reminds us:

In government, failure is success. That’s what I call DiLorenzo’s First Law of Government. When the welfare state bureaucracy fails to reduce poverty, it is rewarded with more tax dollars and more responsibilities. When the government schools fail to educate children, they are rewarded with more tax dollars and more power to meddle in education. When NASA blows up the space shuttle, it is rewarded with a large budget increase (unlike a private airline, which would likely go bankrupt). And when the Fed causes the worse depression since the Great Depression, it is rewarded with a vast expansion of its powers.

Hard to argue with that.