The SEC should agree to a reasonable delay of at least a year. Otherwise, if (or when) the market for US Governments struggles, the current SEC would take the blame for a failure created by its predecessor.

The most significant aspect of the request is that the associations ask only for a delay of the implementation of the clearing rule, not for its reversal. Perhaps this demonstrates one attitude toward rulemaking: even if a rule is of uncertain value, once enough resources have been…

Commissioner Peirce's statement is consistent with the mantra commonly identified with the man long admired as one of the great philosophers and leaders of our time: .

During the past administration, financial regulators have had their attention diverted from their core congressionally mandated missions to a host of social and political causes, for which they have neither authority nor competence. The result is that these regulators have failed to do their jobs or effectively…

The GAO's admission that it is unclear how the system would have performed without the invocation of the systemic risk exception, may be its most important finding. It may have found that (i) in the short run, bailing out all depositors did little or nothing to actually reduce or eliminate the risk of bank runs and (ii) in the long run, bailing out all depositors may still be deleterious.  

The issue worth study is how did the regulators so badly miss the problems at the two…

This Trump Executive Order is quite short (less than 2 pages). It sets out just two goals: (i) obtaining "global leadership" in AI; and (ii) developing AI systems that are free from "ideological bias or engineered social agendas."

By contrast, President Biden's , just revoked, ran over 40 pages. While EO 14110 was also intended to promote AI, that goal was subsumed within 30 or 50 other goals (responsible innovation, AI education, IP questions, attracting immigration,…