I'm not sure. They're lawyers, not engineers, and I don't see any reason for lawyers to conclude "It's fundamentally complex, impossible to get right, and going to have problems" rather than "Well, they just didn't try hard enough to make a good law". And certainly the belief that they can create a solid law through sheer staggering complexity rather than despite sheer staggering complexity is a more parsimonious explanation of what has been happening lately than the idea that they know that simpler laws are better.
There are few enough computer programmers who figure this out even with the math staring them in the face and great engineers all but spoonfeeding these tidbits of wisdom; I can't imagine this is anything like the common perception of law in lawmaker circles, and especially not in circles where people believe activist government is on average the solution to everything.
If there's even a debate about having a law, it's because there's a real or perceived failure by the market to do the right thing. In this case, it'd be because Goldman's activities have nothing to do with the proper role of finance and everything to do with exploiting the already existing bugs in the market system.
Nobody's saying that the government should write laws regarding toilet paper manufacturing, for example. There's a difference between "make a working complex system even more complex", and "attempt to fix a completely broken system, with full knowledge that your fix won't be perfect either".
>They're lawyers, not engineers, and I don't see any reason for lawyers to conclude "It's fundamentally complex, impossible to get right, and going to have problems"
Very true, my brother who, is the press secretary for a relatively prominent senator, said to me when we were debating the health care bill, "Complex problems have complex solutions." and then... "Getting to the moon was a complex problem, and I'm sure it took lot more than 2000 pages to explain the process of getting there."
> "Getting to the moon was a complex problem, and I'm sure it took lot more than 2000 pages to explain the process of getting there."
Yes, but how many of those pages were written by congressional staffers?
> "Complex problems have complex solutions."
Not necessarily. Besides, the question is not whether the solution is complex, it's whether the proposal is a solution. The fact that a proposal is complex doesn't tell us whether it is a solution.
I'm not sure. They're lawyers, not engineers, and I don't see any reason for lawyers to conclude "It's fundamentally complex, impossible to get right, and going to have problems" rather than "Well, they just didn't try hard enough to make a good law". And certainly the belief that they can create a solid law through sheer staggering complexity rather than despite sheer staggering complexity is a more parsimonious explanation of what has been happening lately than the idea that they know that simpler laws are better.
There are few enough computer programmers who figure this out even with the math staring them in the face and great engineers all but spoonfeeding these tidbits of wisdom; I can't imagine this is anything like the common perception of law in lawmaker circles, and especially not in circles where people believe activist government is on average the solution to everything.