Here’s some perspective that may bust any nascent optimism you’re feeling over the state of the economy. We’re about to embark on Ben Stein’s financial overhaul. This weekend he called for a return of the uptick rule, the end of Mark-to-Market, and some kind of ban on trading in CDS without the underlying security.
The last one may be a longshot still, but the first two are basically here. The uptick rule will be back in force, within a month and the House has already scheduled hearings on the end of mark-to-market.
In otherwords, the NYT’s biggest blowhard pundit is getting his economic policy wishes. Shudder.