tag:blogger.com,1999:blog-13164186.post7928511500723686807..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: David Brooks on financial regulationDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-13164186.post-19089227994720795742010-06-19T19:16:41.844-04:002010-06-19T19:16:41.844-04:00What is the best, fast, and cheapest mitigation te...What is the best, fast, and cheapest mitigation technique that has never been on the table?<br /><br />Personal Liability is the best mitigation technique.<br /><br />I would love to hear just ONE convincing argument why personal liability isn’t the best risk mitigation technique.<br /><br />There is no better check and balance than Personal Liability…yet corrupt leaders in their thousands of hours of hearings and pages of rules never use this accountability tool. Personal Liability<br />1. proactive vs. reactive<br />2. constrains risk taking<br />3. reduces the need for government involvement<br />4. allows for free market flow<br />5. produces accountability<br />6. concentrates the best interest by hanging personal financial loss over boards and management<br /><br />It is not difficult to see this self regulating tool would provide a layer of capital from the boards management and highest paid employees and politicians.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-63819127433371049272010-05-05T17:32:39.605-04:002010-05-05T17:32:39.605-04:00It's always amusing to watch a completely boug...It's always amusing to watch a completely bought Beltway courtier (or is it jester?) like Brooks cluck on about "the political class", as though he's somehow outside of it.<br /><br />Little Davey is just doing what he does best, poisoning the water, in order to carry water for the wealthy and connected. Regulation might crimp their power -- best to get one of their reliable lickspittles on the case, to belittle the very **idea** of regulation.<br /><br />Never forget that Little Davey's inane "Bobo's in Paradise" has been shown to be largely fabrication. Never forget that Little Davey tossed all his supposed scepticism about "the political class" aside when we launched our glorious Iraq adventure. David Brooks is nothing more than a well-paid professional liar, a person with **zero** integrity or honesty.<br />-- sgloverAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-25780056238803155392010-04-30T11:25:06.028-04:002010-04-30T11:25:06.028-04:00The general problem with regulatory solutions is t...The general problem with regulatory solutions is that politicians fail to foresee the dangers of regulatory capture by the industries effected. They also invariably embed grotesque conflicts of interest into the laws such that the bureaucrats tasked with regulating are incentivized to do a poor job. I see nothing in the bills before Congress that address this. Giving the Consumer Financial Protection Agency functions to the Fed is a perfect example of this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-79040828812094723122010-04-28T19:53:19.123-04:002010-04-28T19:53:19.123-04:00David Brooks is a political animal with a purely p...David Brooks is a political animal with a purely political agenda. He has no interest in or prescription for financial regulation. He's an expert in exactly nothing. All he cares about is sounding "reasonable", then coming to a conclusion that coincidentally coincides with the most recent RNC talking points.Anonymoushttps://www.blogger.com/profile/07941397575879054298noreply@blogger.com