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This is not a serious bill. To illustrate this, here is a sample transaction under the definitions in the bill.

Sample Transaction. Three unrelated middle class individuals form a vehicle, in which each owns a 1/3 interest to buy a 40% interest in another company that owns three corner grocery stores. The vehicle obtains the right to a board seat and to block certain decisions, such as the decision to start a new corner grocery store or to sell one.

​Definitions. The corner…

While the G7 "common understanding" on the digital economy may be short of specifics, the direction is clear: national antitrust regulators (maybe some, maybe all) are going to be examining big tech and looking to bring cases. Notably, the publication of the common understanding follows shortly after the U.S. Congress heard testimony on a bill titled . The Act would prevent the largest technology firms from entering the financial services business, presumably because the value of consumer…

The New Jersey proposal (i) treats businesses as inherently bad for seeking to earn a profit on their operations, and (ii) imagines that punitive regulations can be imposed on businesses without harming the consumers that use the services those businesses provide.

Let's "translate" the New Jersey proposal into practice. Under it, a broker-dealer providing a single bit of investment advice must now monitor the client's account on a continuing basis. Suppose that the client would be…