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So, 'update regulations when new information comes to light'? It is frustrating that common action often precludes such common sense sentiments due to the fric
by eximius 3y ago
So, 'update regulations when new information comes to light'?
It is frustrating that common action often precludes such common sense sentiments due to the friction of interests or bad actors.
- dgs_sgd 3y agoAh, but regulatory updates come at a rate much much slower than new information and innovation. For example, the main securities law in the US was written 90 years ago (Securities Act of 1933).
- JackFr 3y agoThe Securities Act of 1933 is a tremendously successful law. (And it’s been amended a half dozen times so it’s not really trapped in amber.)
- TulliusCicero 3y agoIn principle everyone agrees with that, but the system tends to work against it. Especially corporations or other large groups that specialize in X, where X is the currently mandated thing to do.