“With all due respect to our witnesses from the Association of Reptile Keepers, repealing a so-called job-killing regulation to allow more pythons, boa constrictors and anacondas into the United States is not the kind of bold, bipartisan solution Americans are looking for to help the economy,” said Rep. Elijah Cummings (D-Md.), ranking member of the oversight panel.
They’re talking about a proposed regulation from Department of the Interior that seeks to contain the spread of gigantic constricting snakes to the Everglades, where the things literally eat alligators, herons, egrets, and anything else that doesn’t watch its back. The Republicans say this is part of a “tsunami” of regulations that is choking off the economy.
It’s even funnier when you read their report on excessive regulations, where they claim the python importation business will suffer to the tune of billions if they’re federally regulated.
Lest you think this is limited to pythons, I should correct that impression. Financial industry reps also testified today before the same oversight panel. Please try not to have coffee in your mouth when you read this section of testimony offered by FINRA with regard to the regulation of investment advisers as opposed to broker-dealers:
Self-regulation in the securities industry has a long and effective history, and both Congress and the SEC have periodically examined and reaffirmed its critical role. In designing the statutory scheme of securities regulation in the 1930s, Congress envisioned that most of the day-to-day responsibilities for market and broker-dealer oversight would be performed by independent regulatory organizations under the SEC’s direct supervision.
Big laughs. Big, big laughs. But it’s soooo not funny.