"If we think freedom means making your own choices and taking responsibility for them, big and complex financial capitalism doesn't meet the test in any simple way. It leaves too many people out of too many of the choices that shape their lives most basically. The only level where it's possible to exercise control over these decisions is political and legal. Regulations have their costs and problems, of course, but so does less regulation. Talking about freedom doesn't dissolve the question, and decisions about what kind of market to have are not avoidable -- although of course it is possible to ignore them and pretend we never made a decision. But that is thoughtlessness masquerading as tough-mindedness."