Aug 22nd 2011, 23:47:14
I am an attorney who specializes in energy trading regulation. I have prepared many arguments with my industry counterparts and lobbyist consulting firms.
I am also a Republican. I am also a Tea Party supporter.
Regulation can put a choke hold on capital innovation. Dodd-Frank as it is written will limit liquidity in many commodity markets. Financial oversight will make speculation risky - and in a bad way. Speculation is inherently risky, however the risks are market risks, which spur innovation and advancement. The risks will now be regulatory risks, which limit innovation and enhancement.
Regulation may be socially beneficial, but it is financially bad. Partial regulation is horrendous. The financial crisis of 2008 is squarely on the shoulders of short-sighted and vote-seeking Democrats looking to ensure unwarranted loans were provided to their constituents who could not afford them.
Please quit mis-characterizing Republicans and Tea Party supporters. Control spending, then we will talk about tax policy.
I am also a Republican. I am also a Tea Party supporter.
Regulation can put a choke hold on capital innovation. Dodd-Frank as it is written will limit liquidity in many commodity markets. Financial oversight will make speculation risky - and in a bad way. Speculation is inherently risky, however the risks are market risks, which spur innovation and advancement. The risks will now be regulatory risks, which limit innovation and enhancement.
Regulation may be socially beneficial, but it is financially bad. Partial regulation is horrendous. The financial crisis of 2008 is squarely on the shoulders of short-sighted and vote-seeking Democrats looking to ensure unwarranted loans were provided to their constituents who could not afford them.
Please quit mis-characterizing Republicans and Tea Party supporters. Control spending, then we will talk about tax policy.