John --

Many thanks for weighing in, though I'm not sure I follow your line of argumentation. Are you suggesting that, since asset managers are different from banks, they do not deserve regulatory scrutiny? Surely even if activity is different the sheer magnitude of asset size warrants a look, even if regulation takes a different shape. At the risk of being too direct (and with apologies for same) you have thoughtful observations here, but the editor in me is unsure what the thrust of your argument is and would love to hear it.

How would you phrase your take on this subject in no more than five sentences?

Cheers, and thanks for reading!

Will