April 27, 2010

JERRY POURNELLE ON FINANCIAL REFORM:

Were it left to me I’d reform finance regulation all right, but it wouldn’t be a hasty process. It certainly would not include the oligarchic legislation in this bill. Adam Smith told us that capitalist would always collude to get government to make it tough for competitors to enter the market place; the current financial reform bill does this in spades with big casino. Of course Sarbanes Oxley already did that; but this makeS the cheese more binding.

Read the whole thing.

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