End the FDIC!

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Mike Konczal dips into 15 years worth of financial regulation advice from the Cato Institute and is impressed with their consistency:

With one exception [], there are no new ideas on financial market regulation as a result of the financial crisis. None….You would have no idea that we’ve just experienced the most major financial crisis since the Great Depression by reading their high-level policy suggestions. How cool is that?

The only change is that in 2009 they aren’t calling for abolishing FDIC insurance….They do that every year except their latest version. I wonder why they’ve backed off that all of a sudden? Did the financial crisis show a lack of panic in the commercial banking system, and they suddenly support FDIC insurance? Or are they biting their tongues and sitting it out for a half decade or so before calling for it to be dismantled again?

I’m guessing the latter. Still, I’m disappointed that they’ve turned out to be so craven on this vital issue of libertarian principle.

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And the truth is, going into the final 4 days of the year we still needed to raise $TK to hit our $350,000 goal and start 2021 on track. It's nerve-wracking, wondering if the big spike we normally see at the end of December is going to be another thing that doesn't go as planned in 2020, or worse, if, now that Donald Trump is set to leave the White House (for longer than a taxpayer-funded golf trip to a property he owns), folks might be pulling back from fighting for the truth and a democracy and think the hard work is done.

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