Dodd-Frank, though passed 4 years ago in the wake of the Crash still isn’t even half written. It may never be fully written. As we speak regulators write new rules and regs with help from the financial industry of course. “It’s a living document.” Sigh.
At best we have been treading water since 2008. Check that, we’ve been treading water while the tide continues, unrelentingly to go out.
You cannot do business anonymously any more. There must be a trail for every transaction lest some amount of money escapes the clutches of the managers. There must be control.
Bitcoin directly challenges the current banking system. That’s why the banks (via friends in Albany) are trying to shackle it down with regs.
The market keeps going up so things are good right?
Is he right?
To be fair the Republicans have been the party of big business and big government for a long time too.
But for all the talk of “ending corporate welfare” we’ve heard over the years from the Democrats it sure is disappointing to see how quickly the Dems have abandoned this rhetoric to defend the billion dollar, taxpayer funded corporate slush fund which is the Export-Import Bank of the United States, aka “Boeing’s Bank.”
Trickle down government is pretty much always a bad idea. Pour taxpayer money into giant firms and watch that money’s usefulness evaporate. It warps the economy. It creates inefficiencies and stifles jobs. (Despite what we are told.)
Bush II comes in a very close second. The country perceives that the United States has been under particularly poor management for (at least) 14 years. And the country is right.
Truly it will not end well if people keep buying into the simple minded notion that the government is somehow their friend. That the state will mete out justice on behalf of the “people.” That somehow by expanding the power of the politicians life will be made better.
The government is to be tolerated. There are things it must do. But it is not your friend unless you are in the political class. Most of us are not.