The SEC: Regulating Behind the Veil of Ignorance


In what world will the SEC regulate Wall Street adequately? Wall Street’s financial architecture puts it beyond effective regulation. The whole superstructure of modern finance capitalism is designed to enrich the few at a relative cost to the many. Wall Street is a powerful special interest. Powerful interests aim at leveraging congressional legislation so that taxpayers unwittingly provide subsidies — regulatory benefits that produce lucratively skewed takings for the privileged. Wall Street plays this game with extraordinary craft, notwithstanding a few slip-ups of late.

McCain Could Have Helped Economy Decades Ago

Since when did Senator John McCain get religion on regulating the American financial industry? Oh, I forgot: He had a ‘born again regulatory experience’ when his handlers showed him polling data on how he could help his Oval Office ambitions.

Does Senator McCain think he can top Ronald Reagan's legacy as the ‘Great Communicator’ by recasting himself as the ‘Great Regulator’? Does he think that the free market fleece of a sheep can be dyed to make him look like the Big Bad Wolf of Wall Street regulation?

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