kaal:claim:2273857-011

Rules established in reaction to financial crises inevitably fail to soften, curtail, or preempt the effects of financial crises, because reactive rules are tailored to the economic and regulatory issues existing at the time of enactment and ignore possible future contingencies.

Rules established in reaction to financial crises also inevitably fail to soften, curtail, or preempt the effects of financial crises because reactive rules are mostly tailored to the economic and regulatory issues at the time of their enactment and often ignore possible future contingencies.

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013), I. Introduction, p. 10
https://ssrn.com/abstract=2273857 · source PDF

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

• rules enacted reactively after a crisis

failuresupport: arguedfailure: reactive rule obsolescencefamily: rule-obsolescence-and-ossificationregulatory-failure

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