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Originally Posted by henry quirk
How many rules were created, Bruce? List them, please. If you do, and we go through them, one by one, I guarantee we'll find nine tenths (or more) of them are unnecessary.
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I can't tell you, in that particular instance my financial advisor(an Edward Jones agent) called me in because one of the rule changes was they were required to inform all their clients. He started reading off the changes in the system to protect clients and after 10 minutes I said whoa, enough, stop, where do I sign. His assistant brought in 6 papers for me to sign.
The bottom line is I don't know, but you can be rest assured outfits like jones had people fighting onerous rules all the way through the process. Plus that was just one example of why the rules are necessary. For every rule made there are dozens of people plotting to get around it.
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Sensible, minimal regulation serves the majority (a majority which is expected to be self-regulating and -responsible), so -- by definition -- such regs must be sensible, minimal.
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You're kidding right? Capitalism has never been "self-regulating and -responsible", quite the contrary rape and pillage the gospel.