Good evening. Care for your latest dose of regulation crushes innovation and competition? If you’re unhappy about the lack of innovation in America for mobile payments like they have in Japan, blame the Dodd-Frank bill. It prevented the wireless industry from getting together and making it happen. But we sure stuck it to the bankers, eh? Our faces are sure spited from cutting off our | Read More »
OK, here’s the situation on the Dodd-Frank financial bill. The Democrats need 60 to get it over the finish line, and they currently have 58 Democrats in the Senate. They got 60 aye votes on the first version. Senators Feingold (D) and Cantwell (D) both voted against Dodd-Frank last time. Senator Brown (R) voted for the first version, but is being reported now as having | Read More »
The last few years of taxpayer-funded bailouts, backstops, and so-called “stimulus” spending have left Americans with a political economy in which Washington, not the market, decides where to allocate capital. Until now, Washington’s interventions have been put together in haphazard fashion – $300 billion here, $700 billion there, etc. But under the guise of “financial reform,” Democrats last Friday unveiled their plan to make this | Read More »
Early on Friday morning, after a 20-hour long conference, House and Senate negotiators agreed on a consensus version of their Wall Street overhaul. It’s nominally intended to address the problems exposed by the 2008 near collapse, which gave birth to our current bailout culture. But instead of addressing the problems of Fannie and Freddie, this bill does nothing to reform those GSEs. Faced with a | Read More »
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