Do we want to live in a country where getting around the rules is the norm? The USSR was that kind of utopia

Bloomberg says Dodd-Frank regulations are ‘stupid laws’

Mike Bloomberg isn’t stepping down from the soapbox. 

The Dodd-Frank regulations put in place after the financial crisis are “stupid laws” that the banking industry will just ignore anyway — just like Mayor Bill de Blasio’s new 25-mile-per-hour speed limit, the financial data company CEO and former New York City mayor said on Monday.

“The world adjusts to stupid laws,” he said at an industry conference. “They just don’t pay attention to it and you get burned later on. That really is what happens, like a 25-mile-an-hour speed limit.”

Instead, the government should have let the industry craft the bill and let Congress “tweak a little bit,” he said.

After walking out of City Hall, Bloomberg has ramped up his visibility in the financial markets and politics — a move that has kept him in the spotlight as he tries to expand the reach of his media and data company, Bloomberg LP.

The current mayor lowered New York’s speed limit to 25 miles per hour on Oct. 27 as part of his “Vision Zero” campaign to eliminate traffic deaths.

The annual meeting, put on by the Securities Industry and Financial Markets Association, had Wall Street’s biggest names, from Securities and Exchange Commission Chair Mary Jo White to Morgan Stanley Wealth Management President Gregory Fleming — widely considered one of the leading candidates to be the bank’s next chief executive officer.

While most of the participants shied away from saying anything too controversial, Bloomberg went off on everything from Google and the National Security Agency to his advice for President Obama and the results of the mid-term elections.

“Google and Facebook and Twitter, they want to collect data on everything you do, everybody you sleep with, every place you eat and what you ordered at the venue, and then they’re going to sell it for their own personal profit,” he said. “And we’re complaining about the NSA?”

And after Democrats roundly lost in midterm elections, President Obama shouldn’t be “a wuss.”

But, in the end Bloomberg shows the elitism of a Democrat. Doesn't matter what the people say, it only matters that the Democrats get their agenda accomplished. Talk about ruling against the will of the people.