Remora
LI looked forward to some raw conservative outrage over yesterday's vote in the Senate. Aren't we talking about a vast increase in the regulatory apparatus? I mean, sure, it is sweetened with some fire-eating go straight to jail legislation, which is always pap to the right-wing palate. But if that kind of legislation is actually enforced, we are talking about jailing white boys in suits.
Okay, realistically, we know the swat team approach to fraud will die very quickly on the vine. At least Alan Reynolds in the National Review has the guts to defend the potential pool of defrauders:
"I'm all for suing the pants off anyone proven guilty of fraud, barring co-conspirators from serving as corporate officers or directors, and using prison sentences when appropriate (though victims can't squeeze much reimbursement out of jailbirds). It is the uncritical rush to "reform" accounting and to encourage runaway regulation that worries me. The curiou
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