This request by members of Congress seems to be a response to the Office of the Comptroller of the Currency's recent report, which took what may be described as a regulator's view of innovation: if it works, then it's great, but if it doesn't, then it's potentially careless and in violation of the law. ( (March 31, 2016).)

Firms should review this rule proposal closely, since it may have significant impact when firms are forced to buy illiquid securities on an accelerated timetable.

At a time when the political discourse is focused on class division, this story of the banker and the plumber offers touching human interest. Imagine how nice it would be if, while the plumber was redoing the banker's bathroom, the banker were renegotiating the plumber's mortgage.

Burdensome rules imposed on financial market participants can hinder the entire economy. The effects might be obvious to some, but seem utterly lost on others. Instead of trying to convince "public interest" advocates that strict position limits on energy are economically absurd (the best way to "hoard" oil is to keep it in the ground, which is not an act that is subject to position limits), Commissioner Giancarlo is better off bemoaning the plight of the virtuous farmer.