On Meltdown Day, Bloomberg Warns Against ‘Layers of Regulation’ on Wall Street

Here’s Michael Bloomberg yesterday in City Hall, fielding a question about whether there was a lack of regulation on Wall Street lately.

“I think that yes, there has been, but I’m not so sure that rushing out and adding layers of regulation on top is the right answer,” he said. “The fundamental problem with regulation in this country is not too much or too little—it is too decentralized.”

On Meltdown Day, Bloomberg Warns Against ‘Layers of Regulation’ on Wall Street