Time to reform takeover pricing

Enforcement apart, this is a good time to think about getting some structural reform underway

It is that time in policymakers’ lives when everyone would have some suggestion or the other on what must be done. The events of the past several days are extraordinary. One will never know if the containment measures taken worldwide to halt the spread of Covid-19 is disproportionate.

If the fears die down eventually and one were to conclude that the measures were disproportionate, the conclusion would be irrelevant — measures that are extraordinary and unthinkable have al­ready been taken. If the fears die down eventually and one were to conclude that the measures were indeed proportionate, it would still be