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Sheldon H.'s avatar

Great piece!

The parallels you’re seeing are the same that I’ve been seeing in US banking laws, regulations and regulatory policy since January 2020.

It’s caused me to reengineer my knowledge of banking statutes and regulatory policy of the past two decades, and what I’ve started to conclude isn’t pleasant.

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Lee's avatar

Really nice article...

So glad I'm no longer a Californian. Great while it lasted.

California's insurance commissioner, another creep with no industry experience (He's gay though), has caused most of the major insurance companies to stop writing policies in CA. Now people are struggling to get home insurance, and the state is stepping in to provide insurance coverage. Part of the plan?

California's refinery situation is so tight, that a bump at any refinery causes price increases. If this doofus causes one large refinery to close with his investigations, California is in a perpetual shortage, with attendant high prices. This could go bad very quickly.

The California Air Resources Board has caused the high prices and shortages with their insane rules, and the only way to fix it is to establish another bureaucracy to punish the victims.

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