Markets and instability

I talk to a lot of market experts every working day. Many reach out to me because of my book, "Crapshoot Investing." They generally acknowledge that the markets are very unstable and have become that way as a result of the unintended consequences of SEC rules-- which is a thesis of my book. How to fix it? They certainly oppose more rules! They believe the SEC should subtract some rules so that the market can evolve in reaction to competitive forces. The SEC has so micro-managed the markets, the agency in effect has become the market's "invisible hand."
Another suggestion: the regulators should hire more economists and less lawyers.
A consulting group last week recommeded to Congress that the SEC be overhauled--but it's recommendations for change left the 20th Century, lawyer-dominated model in place.