Large-scale financial disasters have resulted in equally large-scale overhauls of the system responsible for financial industry regulation. Choice over responding parties to these disasters is minimal, and the public inevitably looks to the government for assistance and explanation. The increasingly globalized economy causes any nationwide financial regulation in the U.S. to be felt throughout international markets. U.S. environmental regulation, while not felt immediately abroad, can have drastic impacts on business planning, environmental risk-management, and human rights in the developing world.
Matthew G. Curtis, When Responsive Legislation Ignores the Forest for the Trees, 10 Rich. J. Global L. & Bus. 387 (2011).