Politicians share many of the same skills as magicians. They both use psychological misdirection by making big gestures to distract and fixate spectators, while quietly performing their tricks.
A good example of this is the House and Senate agreeing to raise the budgets for the Commodities Futures Trading Commission and Securities & Exchange Commission in exchange for quietly repealing the Lincoln Amendment to the Dodd Frank financial regulation law.
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The action looks like more money for tougher regulation, but eliminating the Lincoln Amendment means American banks are once again free to use taxpayer money to back-stop their speculative derivative trading.
Read More: Banks Get OK to Use Taxpayer Money for Derivative Speculation
Niamh Harris
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