"Meddling". The one that we have to prevent market crashes and depressions? The regulations didn't materialize out of thin air.

Oh, fuck it, let's shut down the FAA too. So many rules. Happy flight.

Probably more this sort of meddling: https://www.reuters.com/world/us/us-supreme-court-boosts-nra..., where New York leaned on banks and insurance companies to stop doing business with organizations they (the regulators) didn't like.

Perhaps the competition will discourage future misbehavior like this.

Look, commie, every red blooded American has a right to commit financial frauds.

Meme coins, Ponzi schemes and fraudulent inflated companies are what built America. Adam Smith’s invisible hand and the second amendment are all we need, not some pasty deep state operative.

This but unironically...I am not aware of a significant innovation that didn't lead to a financial bubble. One of the modern misconceptions is that you can have capitalism without anyone losing money, without bubbles, and with government officials sagely selecting which innovation is legitimate.

It is true that there are countries where this has been attempted, Sweden is one, but the result was that one person got extremely rich, one family in Sweden owned 50-60% of the nation's GDP. And, eventually, it collapses.

You can also see the cross-sectional today: countries which have tried to regulate away financial risk have seen innovation collapse. The UK is the best example which handed the BoE huge powers of financial regulation, and also gave them responsible of a totally new type of financial regulation: prudential. Regulators regulated, and now 3 banks have 80% market share and the price of things they lend against (houses) has skyrocketed and actual productive financial activity has disappeared (same thing happened with CMA, within-industry merger activity has stopped because of the legal costs/regulator intervention...funny thing is that the CMA budget continues to expand significantly, they are now intervening in areas like marketing...despite the UK already having a regulator that does this). Even the BoE has now recognised the massive risks to financial stability that their policies are having but...what can they do, the imperative to grow the budget continues, regulators always find more things to regulate.

That’s an interesting and thought provoking perspective. Thanks!

Yes, those ones. Like it or not, that's the way American society is heading. NYSE can't stop it either and is being wise to try and cash in on the trend.

If you're wise, instead of complaining about society heading this way, you'll take financial positions that profit from it happening.

I couldn't agree more. This is why I'm investing heavily in companies producing body bags; sure, people are going to die, but the upside for me could be in the five figures by the time it comes for me!

Ah yes. "Nothing matters". Why have a country? Why live in a civilization? Cash out and barricade behinds cans of tuna. This is why we are here.

It's pretty funny when people pitch this as the "savvy" or "smart" strategy.

Just take the financial position on global financial crisis 2. You'll be so rich and happy when it arrives!

Wise implies being able to price in externalities, so I'm not sure that's the best word you could have picked…

Deregulation is happening, whether you like it or not, so the question is now whether you'd like to be rich in a deregulated state or poor in a deregulated state.

Yes.

If only we could have a state with zero laws, where all corporate headquarters could go, with no taxes, and list their stock, and not be accountable to anyone.

The glory of the 'states' loophole. You just need one state to let everyone get a pass.

Doesn't work for the little guy "Officer, you can't give me a speeding ticket, I'm from out of state".