17 July 2010

Wait, who?

are we supposed to appoint to over see Wall Street again?

Somebody who likes the place? I'm pretty familiar with Warren's work at this point, she's not some radical leftist person. In fact, she's a fiend for contract law, which is more or less the bedrock of free market operations.

And contract law seems to be precisely what is needed to oversee much of the operations of finance and banking, if for no other reason than to increase transparency and the position that at least give the appearance that the deals being made are open and honest bargains struck by two or more willing parties to them, no matter what they are over. I don't think that means that Wall Street won't be able to make a quick buck doing things that are perceived as shady (short selling, mortgage derivatives, etc). But whatever.

If there's somehow an actual reason to oppose this appointment, I don't see it myself. I suppose you could in theory object to the existence of the new regulatory agency itself, but if you're not going to do that, then I don't see how this isn't a qualified choice to fill it.
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