The value of these government reports is questionable. Statements in the OFR report like: "severe adverse outcomes in the U.K. could pose a risk to U.S. financial stability," are trivial given the current economic environment, and they offer no useful insight for market participants. More remarkable, however, was the failure of the Financial Stability Oversight Council ("FSOC") to identify "Brexit" as a risk in its own , produced just before the "…

Although the G20 Communiqué has no actual legal effect, the intellectual bent is clear: it supports globalism and government intervention while remaining either indifferent or hostile to private enterprise. The Communiqué begins with a recognition that the global economy is weak. It then pivots toward questions of infrastructure spending which inherently means either government spending or spending through international government agencies and "multilateral development banks." The G20…

CEA Section 2(h) should be amended to specify that any determination that a swap is subject to mandatory exchange trading must be initiated by regulators, in light of market conditions, and not by exchanges. Unbundling the mandatory exchange-trading element of the CEA from the mandatory clearing element would give the CFTC more latitude to make its clearing determination without being forced to approve the mandatory exchange trading of the swap.

It is unclear why anyone would want to register as a funding portal, since there are no obvious economic advantages to that aspect of the crowdfunding business. Perhaps there is some non-economic benefit driving registrations. Undoubtedly, raising $4.4 million in funds is a nice development for the 60 businesses that have done so, but it is a non-event as far as the economy is concerned. Perhaps that sum will become more meaningful in the business pages of newspapers at some point, but right…