Good Enough for Oklahoma, How About Goldman?
Democrats in D.C. are going about this regulation thing all wrong. Want to get Republican buy-in? Give Republicans the kind of regulation they like. As usual in U.S. politics, the states provide the road map.
Take Arizona. There, the party of small government's just released police to stop people on suspicion. Want to break GOP resistance to financial regulation? Release the SEC to spot-check Wall Street. Anyone who looks suspiciously likely to be hawking synthetic derivatives? Slap ‘em in detention until their lawyers can prove they're innocent. It’s all in the interests of crime prevention.
Oklahoma's state legislature just overrode the governor's veto of two laws related to pregnancy and abortion. Personal privacy's nice but even good people sometimes make bad decisions, said legislators. Now women who'd like to terminate a pregnancy will be subjected to mandatory vaginal scans and forced to view fetal porn videos. Want to reduce credit default swaps? Before they make another risky bet, let’s force traders to slap on a gown, step in those stirrups, and subject themselves to a mandatory scan of their stock portfolios, while watching American Casino or Plunder or listening to the live, panicked heartbeat of manipulated mortgage owners.
Regulators need to remember that even the die-hardest conservative's OK with some regulation. If it's good enough for the women of Oklahoma, it's good enough for Wall Street. Right?
The F Word is a regular commentary by Laura Flanders, the host of GRITtv which broadcasts weekdays on satellite TV (Dish Network Ch. 9415 Free Speech TV) on cable, and online at GRITtv.org and TheNation.com. Support us by signing up for our podcast, and follow GRITtv or GRITlaura on Twitter.com.