Ben comes clean . . .

. . . and admits the obvious - kudos to him, for this admission means the Fed, too, needs to take a long look in the mirror. But, those who want to drown government in the bathtub won't like this kind of talk one bit: like all self-improvement plans, the first step - recognition - leads inexorably to other steps. This is because recognition, while important, does not solve the problem. In order to solve the problem, you gotta actually do something. If regulation is poor, better regulation is the only cure - and this costs money.