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President Obama, the Consumer Financial Protection Agency, and Consumer Choice
TRUTH ON THE MARKET — My colleague Todd Zywicki and I have a piece out in Lombard Street today on the proposed new Consumer Financial Protection Agency.   The issue has a number of contributions from proponents and critics of the new agency.   The piece is well timed, with President Obama making the case for the CFPA in his ...

Paternalistic regulation and the knowledge problem
Knowledge Problem — ... A recent essay from legal scholars Todd Zywicki and Josh Wright analyzes the proposed Consumer Financial Protection Agency, and over at Volokh, Ilya Somin ...

J.W. Verret on Robert Pozen's "Too Big to Save? How to Fix the U.S. Financial System"
Conglomerate — ... The book also signs on to the new Consumer Financial Regulatory Agency, but doesn't acknowledge that there is a growing debate over whether it will be effective in achieving its objective (for more on the debate see Zywicki and Wright).  Regulators didn't do a very go job in predicting problem spots in this crisis.  Bob mentions that OFHEO ruled Fannie and Freddie's books "accurate and reliable" just days before a scathing audit report.  The PCAOB is criticized for mark-to-market accounting, and the SEC takes a hit for its Consolidated Supervised Entity program ...