Notice that all federal financial regulation seems to be in reaction to problems that have occurred and that they never quite prevent what they are supposed to do?
Furthermore, they never seem to stop frauds or schemes. They produce lots of meaningless data, business and personal expense, to go with taxpayer outlay. The only real benefits accrue to politicians who take credit for the passage of the legislation.
What I have just said may sound silly, until you think about, for example, all the reams of meaningless mutual fund folders, prospectus material, proxies, etc. you get that wind up, unread, in wastepaper baskets. Cogent information could be put on a few sheets of paper instead, for each subject addressed.
And I’m talking only mutual funds.
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