(US) New Financial Regulation

Mark Hubbard's picture
Submitted by Mark Hubbard on Sat, 2010-06-26 22:11

I'm just pasting my closing comments from one of my Allan Hubbard posts in order to start a new topic.

I'd be interested to hear American (Atlas?)opinions on the new regulatory regime going through for your financial sector.

... in the US last night, the Obamamessiah just stabbed the biggest knife into free markets since the 1930's, with his new financial regulations, adding layer after pointless layer of bureaucracy to what the slaves can do in what is left of their markets there. And at the G20 he is now the only leader recommending big government deficit spending to keep the 'recovery' (yeah right) going. Of course the Europeans would love to, but the reality of being broke is ruining utterly the Statists party for them - out of this in Europe will either come freer nations because the size of the State 'has' to be cut back, or will come tyrannies ... I wouldn't like to hesitate a guess at which.

Cameron from the UK is saying the right things economically though. There's a tiny glimmer of hope there (maybe).

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According to CNN the

Mark Hubbard's picture

According to CNN the regulatory package includes a US$19 billion levy on the banks.

Oh yeah, that'll help Mr Obama. (What an idiot.)

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