Too rainy to ride my bike and too early for a nap. Another day of too much CNBC.
I've got FINREG reform all figured out though...
The Wall Street guys want to be able to help advance the US and World economy by trading vast amounts of assets in creative and complicated ways at lightning speeds while earning 7 and 8 figure compensation. They propose this is good for all of us.
The government wants to create new agencies to protect us from the WS guys while creating more votes for big government.After all, look how well the SEC worked. These people will earn 5 figures and will promise not to look at porn. However, they will think about how to get to the other side and make 7 figures some day.
There are some provisions that may actually work like you have to show what you are doing and that you can only gamble with 20 times your reserves instead of 40.
If we want rely on the 5 figure guys to outwit and control the 7 figure guys who they consider heroes then all we have to do is find very smart people that are not at all greedy.
Damn.. back to the Ivy League again.