Streetwise Professor

April 5, 2012

A Track From the SWP Greatest Hits Compilation

Posner & Weyl are continuing to flog their idea of an FDA for financial products.

I wrote about this really, really bad idea in February.  Given the swooning over the Posner-Weyl proposal, that post needs to be re-released.  So here it is.

I don’t need to change a word.  The FDA idea is a very bad one and the metaphor is completely inapposite.  Posner and Weyl are repeating their argument, and so my rebuttal needs no change.

It is good to see that not everyone is swooning.  This blog at The Economist rips into the proposal.  Great!

But gee, the points in the Economist post seem familiar.  Very familiar.  Every damn one.  To the points I made two months ago.

Purely coincidental, I’m sure.

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  1. Imitation is the sincerest form of flattery, also the most annoying.

    Comment by sotos — April 5, 2012 @ 8:17 pm

  2. @sotos-the Economist is a serial offender. Print and online.

    The ProfessorComment by The Professor — April 5, 2012 @ 8:21 pm

  3. The thing about many (though not all) Brits that is so annoying, and here I am speaking about my relatives and MANY acquaintances, is the tone of Olympian superiority assumed by the speaker (assuming a non “YOB”). Offenses include discussing books that it becomes obvious they have never really read (Kapital being the biggest one among the leftists), assuming if they don’t know it it isn’t worth knowing, (or doesn’t exist), and their overweening arrogance and shamelessness when caught out. Nancy Mitford’s division of the population as U and non U lives on in a way hard for us to imagine, only matched by the capacity for self righteous dishonesty among many of the so called upper classes (and bureaucrats). One politician whose name escaped me described his feelings towards Gladstone thus: ” I don’t object to him having the fifth ace up his sleeve, merely the contention that God Himself put it there.”

    Leaving out the Almighty, not U any more, you know, the same is true of a lot of them today: The Economist being the head on this particular boil.

    Comment by sotos — April 6, 2012 @ 6:29 am

  4. Ed Lucas’ lads steal your stuff without attribution? Nah, they’d never do that 🙂

    Comment by Mr. X — April 6, 2012 @ 4:57 pm

  5. And R/Liberty Lynx, bearing false witness against one’s neighbor, as in ‘hey Big Sis Napolitano arrest these people they’re all foreign agents’ Stasi-level stuff like Reginald Quills, is just as evil as sexually exploiting poor Slavic women willing to sell their bodies (ala Ames), in my opinion.

    Comment by Mr. X — April 6, 2012 @ 8:05 pm

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