A different ball of wax
There is no place for this sort of “wokeness” in financial policy or regulation. There will be double and triple standards for sure. It will be detrimental to long-term growth, and detrimental to the entirety of society.
Capital Thinking · Issue #808 · View online
When the acting chair of the SEC testifies before the House Financial Services Committee and invokes race and climate with regard to financial regulation, you have a different ball of wax than you had before.
There is no such thing as systemic racism in financial regulation. There also is no role for financial regulation as it relates to the weather.
Climate and Race Have No Role in Financial Regulation
Jeff Carter | Points and Figures:
Financial regulation should be there to create an unbiased marketplace. It should also be there so you can compare and contrast companies in an unbiased manner.
If I want to individually look at United vs American vs Southwest vs Delta corporate policy as it relates to climate, race or anything else, it’s up to me to discern the differences. Financial regulation needs to be about the process and the numbers, nothing else.
Besides, anything else is a normative subjective opinion not based on data or fact.
As it is today most markets are computerized. Much of the analysis is being done by algorithms and artificial intelligence.
Point and figure chart analysis just plots the points and the market adjusts. Computers do not care who is pushing the button to trade or who is doing the analysis. Double-entry accounting has never cared about it either.
It’s also worth remembering that all relevant information is already computed into the price of a stock or asset when markets are efficient. So, if these sorts of “woke” ideas being touted by the new administration are relevant, the market will have already priced them in.
There is no need to regulate or bias the regulatory state to them.
In case you haven’t noticed, every single bureaucratic part of the Executive Branch has become a place where socialist policy will be cooked up and administered. The military, the EPA, the Justice Department. No branch is immune. There is a crisis that was artificially created by the Biden Administration.
You might notice the way the mainstream media has reported the news, if at all.
It goes further than that.
Democrats are moving to restrict freedom of speech and the freedom to advocate for yourself.