Lehman's? The term nanny state has nothing to do with financial regulation. Now, if Lehman's had a company cafeteria that came under dictator Mayor Bloomberg's order banning trans-fats in restaurants, that would be an example of a nanny state regulation. Protecting people from their own personal choices under the guise of "it's for your own good." Often based on junk science (remember when trans-fats were good for you?).OTOH protecting against the spread of a deadly disease is reasonable, but when the regulations are such that they kill off businesses that aren't a real threat, that's unreasonable.
Tobacco isn't outlawed, just more heavily regulated, but not excessively. Folks who want it can still easily buy it legally.
Outlawing the tobaccco industry would be nanny state. That's not going to happen, though.
