Ira Stoll on Why Mitt Romney Is Wrong and Garage-Based Businesses Are Great

The most infuriating moment of the first presidential debate between Mitt Romney and President Obama hasn't gotten the attention it deserves. That moment was when Governor Romney, the Republican, in response to a question about regulation, declared it "essential" and went on, "You couldn't have people opening up banks in their — in their garage and making loans."

That sound you heard during the debate was the echo of Ira Stoll ripping his hair out while throwing his drink at the television in frustration at the idea of a Republican presidential nominee who portrays himself as the defender of free markets yet who also describes garage-based businesses as a grave danger that must be regulated out of existence.