The intelligent, real-world inner-workings of the United States’ beloved socio-political experiment, from investor Jeff Matthews:
I once got a call from a Congressperson-friend on a financial sub-committee before the crisis when they were debating something to do with Wall Street. The conversation literally—literally—went like this:
“I’m going into a session…now, remind me, ‘fixed income’ is what?” “Debt.” “Okay. And equity is…” “Stocks.” “Right, okay, thanks.”I am not making that up.
Maybe the people passing laws about things they don’t understand can pass a law preventing themselves from passing laws about things they don’t understand?
Anyone want to take odds on that bet?
If you’re pro-democracy, you have to contend with this kind of stuff as a real-world consequence of the system you prefer.
A House Rises 