10 December 2011
Waters v. Maloney
I can tell you that from the point of view of an understanding of essential financial realities, Carolyn Maloney is vastly to be preferred to Maxine Waters.
Indeed, I'm personally delighted that some of the interest groups pressing for more regulation of the financial world (such as New York's Working Families Party) have blasted Maloney for "siding with Wall Street lobbyists and Tea Party conservatives by co-sponsoring a bill that undermines transparency.”
Transparency sounds like a good thing, but enforced transparency, like the enforced version of anything else, has its own costs. It is well that Maloney understands that, and certain that Waters does not.
Knowledge is warranted belief -- it is the body of belief that we build up because, while living in this world, we've developed good reasons for believing it. What we know, then, is what works -- and it is, necessarily, what has worked for us, each of us individually, as a first approximation. For my other blog, on the struggles for control in the corporate suites, see www.proxypartisans.blogspot.com.