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President Obama's wild notion of merging all the various banking regulatory agencies into a single monster bureaucracy is nonsensical.

What makes anyone think that the failure of multiple agencies can be fixed by merging them? I'm sorry, Mr. President, this is a bad idea.

It's akin to fixing the auto industry by merging

General Motors

(GM) - Get General Motors Company Report



into an even bigger, dysfunctional disaster. Good sense prevailed and derailed in that ill-conceived notion. Hopefully good sense will prevail in the banking system.

In the government world, we've seen time and again that bigger isn't better. Just take a look at the Department of Homeland Security. That bureaucracy is still trying to make sense out of the merger of customs, immigration, Secret Service, Transportation Security Administration, Coast Guard, health affairs, nuclear detection, border patrols, intelligence analysis and emergency management (FEMA) -- just to name a few.

It was this bureaucracy that bungled the emergency response to Hurricane Katrina. To this day, DHS is trying to sort itself out and is


conducting efficiency reviews after more than 700 efficiency initiatives over the past five years.

Now we want to try this again with the banking industry?

This will only serve to add complexity to an already complicated and inefficient system of governing our financial industry. With bureaucracy comes a lack of transparency and an increase in confusion for the companies being governed, the investors and consumers being protected and the general public.

Lawmakers in Washington are

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justifiably skeptical.

The banks must be wary as well, but since the big players, such as

Bank of America

(BAC) - Get Bank of America Corp Report



(C) - Get Citigroup Inc. Report


Wells Fargo

(WFC) - Get Wells Fargo & Company Report


Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report


Morgan Stanley

(MS) - Get Morgan Stanley Report


JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

, are all under the president's thumb after taking taxpayer bailout funds they do not dare speak out.

I'm all for closer scrutiny and I know we've got a regulatory nightmare to sort out, but I don't see any good coming from combining all these messed up agencies into one enormous pile of you know what.

Hall is the editor of

. Previously, he served as deputy editor and chief innovation officer at

The Orange County Register

and as a news manager at

Bloomberg News

in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at

The Journal-Gazette

in Fort Wayne, Ind. His work also has been published in a variety of newspapers including

The Wall Street Journal


The New York Times


International Herald Tribune

. Hall received a bachelor�s degree in journalism and political science from The Ohio State University and has taken graduate management science courses at Boston University.