There has been talk about appointing a new "Systemic Risk Regulator." This "Super Czar" would oversee all of the financial services industry. We had a "Super Czar" last year. His name was Henry Paulson.
Today Fortune editor Geoff Colvin looks at four potential repositories for blame in our ongoing saga of doom. They're a credible group of whipping boys, from Greenspan to Clinton to the collapse of regulation.
Regulation is a social substitute for trust. That's not a moral statement, just a factual one. Here are a few social policy rules of thumb for thinking about the relationship between trust and regulation.