"This paper considers the purposes that regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is considered, and it is argued on the basis of that examination that a fairly 'light touch' in regulation is likely to...

"The issue opened up by the 'Ryanair Case' is a wide and important one. Interest groups often press for special treatment at the expense of others. People often agree to give it, because they think the group is deserving and because they have not thought through how the service is to be paid...