Each financial crisis triggers almost with scientific certainty a wave of regulation which, according to the general experience, tends to over regulate, creates undesired side effects and only partly reaches its goals. After the earthquake of the financial crisis, we are now in the middle of the tsunami of regulation" (Breitenstein S., Lenz & Staehlin, Zurich n.d. p. 61).

Do you agree with this statement? briefly provide a rational for your position in 500 words