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To: goldsnow who wrote (8149)	3/9/1998 3:33:00 AM
From: Abner Hosmer	Respond to of 116764

from the Cato Institute, an examination of Systemic Risk and Public Policy: Bank Failures, Systemic Risk, and Bank Regulation, by George G. Kaufman cato.org >>...the prudential regulations imposed to prevent or mitigate the impact of such failures are frequently inefficient and counterproductive...The regulators have often increased both the probability of bank failure and the costs of such failures.<< and from the conclusion: >>When you hear the government talking about systemic risk, hold on to your wallet! It means they want you to pay more taxes to pay for more regulations, which are likely to create systemic risk by interfering with private contracting....In sum, when you think about systemic risks, you'll be close to the truth if you think of the government as causing them rather than protecting us from them.<<