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The point of legislation is to enact behavior because not everyone is a beneficent actor. If we could rely on beneficence alone, there would be no need for law.
by woodruffw 4y ago
The point of legislation is to enact behavior because not everyone is a beneficent actor. If we could rely on beneficence alone, there would be no need for law.
(It should be obvious that banks do not do strictly beneficent things.)
- chrisco255 4y agoSure, but in this case, the co-author of one of the 21st century's most consequential banking regulations was placed in a leadership role at a bank that ended up failing.