…And?

2 comments March 9th, 2010at 11:23am Posted by Eli

Oh yeah, this seems like a real effective argument against financial regulation:

Alex Castellanos, a Republican consultant, pointed to another edge: with Americans most anxious about unemployment, calling for stricter regulation of Wall Street is “not a growth argument, it’s a punishment argument.”

Aside from being dishonest in the extreme, is it even relevant to anything?  Wall Street’s growth has done little if anything to enrich anyone outside of Wall Street, so it’s a little difficult to see what the harm in curbing it to sustainable levels of non-recklessness would be.

Entry Filed under: Corruption/Cronyism,Economy,Politics,Republicans,Wankers

2 Comments

  • 1. shortstop  |  March 9th, 2010 at 11:15 pm

    Dear god. I think he may actually be arguing that regulation will prevent Wall Street from reaching its full employment potential. Wait. What? Is he? Looking for sympathy for unemployed derivatives traders?

  • 2. Eli  |  March 9th, 2010 at 11:17 pm

    Or maybe smaller bonuses, which would be almost as tragic.


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