The author discusses the need for and the desirability of governmental regulation of the securities market. This assessment, which is made from an economic perspective, leads to the conclusion that the SEC is ineffective in protecting investors and that the regulatory role of the government should be diminished.
James R. Lothian,
The Role of Government in the Securities Market,
33 U. Miami L. Rev.
Available at: http://repository.law.miami.edu/umlr/vol33/iss5/10