In a sense they reacted with a sharp market correction, which was in a sense amplified by the conditions of financial markets, especially the stocks, especially the equity market. It was mostly limited to the equity market and it was pretty short in terms of reaction. In Europe the situation is different.
An increased role for simple regulatory mechanisms that are harder to evade – and even better, mechanisms that utilize market forces to discipline firm behavior – is superior to an ever-expanding list of complex rules that seeks to cover every possible outcome.