In response to:
When I'm on the highway and see another driver take a turn too fast and skid off the road while missing another car or two, and then glance in my mirror to see him get back on the road unharmed, then I'm glad that he didn't kill off himself and/or me and/or other drivers or pedestrians.
It never, ever occurs to me to think: "See! All those annoying speed limits are just burdensome regulation! We should repeal them!"
Apparently this is how Harsanyi thinks
When banks generate huge profits, they are exploiting the American people, engaging in unadulterated greed and, needless to say, in need of more regulation. And when banks lose too much money? Yep, they're being insatiably greedy -- but stupid, too -- and, naturally, in need of more regulation.
The unscrupulous can't win for losing, apparently.
So when JPMorgan Chase & Co. suffers about $2 billion in losses (probably more) via complex derivative trades that were used by an obscure unit within the bank to hedge against risk, everyone in Washington seems quite excited about the political possibilities. JPMorgan's...
* Reinstate Glass-Steagall.
* Repeal the Commodity Futures and Modernization Act.
* Protect Dodd/Frank from the current multiple attempts to gut it.