President Obama hailed the financial bill that House-Senate negotiators finally vouchsafed at 5:40 a.m. Friday, and no wonder. The bill represents the triumph of the very regulators and Congressmen who did so much to foment the financial panic, giving them vast new discretion over every corner of American financial markets.
Simply amazing. When regulation and regulators fail, the answer is more regulation? I guess most of us are just too busy keeping body and soul together to object to the insanity.
I would write more, but I already did, here, here, here, here, and here. Is there much more to say?