A majority of commissioners on the Securities and Exchange Commission is rushing to regulate with a slate of intrusive and burdensome new rules. The minority commissioners have objected, but their pleas for restraint have not had a noticeable effect. A limited procedural reform is needed to restore balance. The SEC and other major agencies have been reflecting the same partisanship and polarization that dominate national politics. Small majorities in Congress, when they have a president from the same party, too often favor partisan measures that barely pass, such as the recent $700 billion bill on health care, climate, and taxes, which needed a tiebreaking vote from the vice president
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