Friday, July 16, 2010

Financial Reform Bill Is A Stunning Success!

So says Michael Shedlock and I tend to agree, with my own reservations. I just can't help but think that somewhere in those 2,000 pages of legislative interference with capital markets is bound to be some pretty hard-core crushing of individual peoples' liberty. If this line from Mish surprises you, it's because you need to understand where he's coming from before you understand what he's saying:
Medical Reform vs. Financial Reform

Medical reform not only accomplished nothing, it actually made matters substantially worse.

In sharp contrast to medical reform, I cannot come up with any financial reform provisions that make matters substantially worse.

Given the absolute best we could ever expect out of a major piece of legislation supported and promoted by Obama is nothing, and given that nothing was accomplished with no major detriments making matters much worse, the financial reform bill must be considered a stunning success.

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