"But businesses don't like simple rules, because simple rules are hard to evade. So they lobby endlessly for exemptions both big and small. This is why we end up with tax subsidies for bow-and-arrow makers. It's why we end up with environmental rules that treat a hundred different industries a hundred different ways. It's why financial regulators don't enact simple leverage rules or place firm asset caps on firm size. Those would be hard to get around and might genuinely eat into bank profits. Complex rules, conversely, are the meat and drink of $500-per-hour lawyers and whiz kid engineers. If the rules are complicated enough, smart lawyers can always find ways around them. And American corporations employ lots of smart lawyers."
-
- PMMJ (
cheetahmaster) wrote,
PMMJ
cheetahmaster
Kevin Drum has a posse
"But businesses don't like simple rules, because simple rules are hard to evade. So they lobby endlessly for exemptions both big and small. This is why we end up with tax subsidies for bow-and-arrow makers. It's why we end up with environmental rules that treat a hundred different industries a hundred different ways. It's why financial regulators don't enact simple leverage rules or place firm asset caps on firm size. Those would be hard to get around and might genuinely eat into bank profits. Complex rules, conversely, are the meat and drink of $500-per-hour lawyers and whiz kid engineers. If the rules are complicated enough, smart lawyers can always find ways around them. And American corporations employ lots of smart lawyers."
-
huh
"The problem for a terrorist group like Al Qaeda is that its recruitment pool is Muslims, but most Muslims are not interested in terrorism. Most…
-
today's good read
"It’s Time for Black Liberation, Not Liberalism."
-
(no subject)
What lead to the death of the enclosed mall as a concept?
- Post a new comment
- 0 comments
- Post a new comment
- 0 comments