Financial regulators are getting dangerously comfortable

Ten years out from the Great Recession, the economy is looking relatively strong and stable. Last year, Congress rolled back certain parts of the Dodd-Frank Act, which put lots of new guardrails around Wall Street in 2010. And last week, regulators decided to weaken a few other rules. It seems American financial regulators are starting to relax and kick their feet up. Unfortunately, this happy-go-lucky attitude could actually help bring on the next crisis. A 20th-century economist...