The SEC Chair is putting firms on notice that he intends to expand by interpretation the scope of the Regulation Best Interest, in particular by defining the term "recommendation" to include any online interaction that the SEC may call a "nudge."

President Biden's Executive Order on digital assets, issued in March of this year, made so many references to so many competing interests and agencies that it actually provided little direction. It did seem to indicate, however, that the federal government was moving towards the development of a CBDC. (See .) Since that time the SEC, DOL and Senator Warren have all taken action to discourage the use of cryptocurrencies. These actions could be interpreted as the various agencies of…

There may be less of a direct correlation between increasing government regulation and economic growth than SEC Chair Genslser suggests. At a minimum, one would hope that the government would be somewhat more modest, or less confident, in viewing itself as the source of growth. There are .

Perhaps the SEC is right, but it is certainly reasonable to question whether some of the "wise restraints" might be just well-meaning impediments.

FSOC seems a wholly failed organization. The justification for the organization was to provide an independent big-picture view of risk. As it is composed of members of a single political party, FSOC just parrots back the Administration's view under a different organizational stamp that provides the barest illusion of impartiality.

It would be better to simply disband the organization and instead publish a summary of the global views of all the major investment banks and economic…