This is the third article in a series of pieces discussing the claim by a Cato scholar at CIFA's recent meeting in Monaco that formal benefit-cost tests by economists were essential to prevent regulatory excess. The second column focused on a portion of a speech in 2002 by Mitch Daniels, then President Bush's Office of Management and Budget (OMB) director to the Competitive Enterprise Institute (
CEI Bill Black is the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. He spent years working on regulatory policy and fraud prevention as Executive Director of the Institute for Fraud Prevention, Litigation Director of the Federal Home Loan Bank Board and Deputy Director of the National Commission on Financial Institution Reform, Recovery and Enforcement, among other positions.
Bill writes a column for Benzinga every Monday. His other academic articles, congressional testimony, and musings about the financial crisis can be found at his Social Science Research Network author page and at the blog New Economic Perspectives.© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
