Alain Sherter (BNET) is on the hunt today. The enemy is New York Democrats seeking to weaken financial regulations at the behest of the that very same financial industry.
In his article Sherter discusses those trying to weaken the bill and notes that –
In defense of preserving the current rules on derivatives Rep. Mike McMahon said:
Wall Street is to New York what cars are to Detroit and corn is to Iowa.
To which Sherter responds –
And derivatives are to the U.S. economy what napalm is to human flesh, but who’s quibbling.
If words were daggers, McMahon would look like a pin cushion.
Read the article. It’s rage, reason and satire, you don’t see that much. Not many people can write like that. It should be appreciated.
James Alan Pilant