Felix Hufeld, President of Germany’s Federal Financial Supervisory Authority, is worried about an outcome of Donald Trump’s election.  He’s concerned that financial regulations laid on in the aftermath of the Panic of 2008, regulations that expanded the reach of Government into men’s financial lives, will begin to be loosened during a Trump administration.

Barely 10 years after the start of the financial crisis I once more hear the bugle calls of deregulation.

And I have the impression that these sounds are becoming louder.  That is not without risk.

To live life is to live with risk.  The thing about risk, though, is that the more Government tries to mandate rules against it, the more Government increases the risks that ordinary folks must live with.

Hufeld has this much right, though:

The [financial] industry, just as politics and regulators, are in need of predictability and continuity—not regulatory volatility[.]

Indeed.  Regulations need to be vastly reduced, Government gotten out of the way of free markets and the free citizens operating in them.  And then politicians and regulators need to leave the remainder alone and stable and not constantly be adding regulations and “tweaking” others.

The problem Hufeld and other bureaucrats of the Left—both in Europe and in the US—have is that they can’t conceive the idea the ordinary citizens are fully capable of making their own financial decisions without Government holding their hands.

Or these bureaucrats worry about their own loss of power were ordinary folks freed to make their own financial decisions without Government holding their hands.

Or both.