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"You want to keep regulation to a minimum," he said, "because it is worse than markets.
Alan Greenspan fought to keep regulation away from that market, and argued that it was assuring the safety of financial institutions by allowing risk to be transferred to others.
Preferring to keep regulation in state hands, IPAA and the Western Energy Alliance filed a lawsuit in the US district court in Wyoming challenging the rules minutes after they were issued in March.
In an interview with broadcasters, Corbyn then made clear he also does not agree with Cameron's proposals to keep regulation of the City of London in the hands of the Bank of England and separate from European supervision of financial services.
His signal of support for reviewing the industry's antitrust exemption put him in league with Democratic leaders in Congress pushing for repeal or revision of the McCarran-Ferguson Act, which was passed in 1945 to keep regulation of insurers in the hands of the states.
Most EU member states now consider a single supervisor for all financial services to be the best solution within their own domain, although there are those who want to keep regulation of the wholesale market apart from regulation of the retail side.By the same token, a pan-European regulator would seem to be the most efficient way to put an end to Europe's regulatory ragbag.
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For one thing, decades of legal maneuvering to keep regulations light (or failing that, to switch regulators) were being nullified.
But industry representatives said the effort was a useful way to keep regulations up to date.
But I think it's a mistake to keep regulations on the books and then effectively allow them to be ignored or underenforced.
Energy companies who want to keep regulations lax need to understand that a series of mishaps around natural gas will — justifiably — trigger an environmental backlash to stop it.
"We should keep regulations where they belong on the big banks while providing relief for small businesses".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com