Tag: government regulation

Best-Interest Regulatory Standard Is Flawed

The financial service industry is moving towards higher regulatory standards.  Best interest, and fiduciary (the higher) among the probabilities. The problem is of course, that no one knows what those mean. The dictionary definitions are clear but meaningless.  This one is from the law… Continue Reading “Best-Interest Regulatory Standard Is Flawed”

The Helicopter Government Problem

Regulating financial advisors will eventually have the same effect that rain has on the availability of cabs in Manhattan. A recent report in Businessweek showed that when it rains in Manhattan, the demand for cabs rose by 4.8%.  A pleasant 3-block walk on 5th… Continue Reading “The Helicopter Government Problem”

There Is Only One Workable Government Incentive

The American Presidential election has provided us with repetitive rhetoric about how the government will create jobs and renew prosperity.  Surely, no one takes these folks seriously.  It is hubris and the result is the same as it would be in a Greek tragedy.… Continue Reading “There Is Only One Workable Government Incentive”

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