FD = GS

I’ve probably written this before, but feels like a good time to write it again.

The Fairness Doctrine was directly parallel to Glass-Steagall. Both New Deal laws tried to separate frauds from honest business.

FD forced broadcasters to avoid partisan disputes and devote a certain amount of time to public service. GS forced banks to avoid stock trading and stick to serving real business.

When you buy stocks or bitcoins you think you’re getting the drop on those Horrible Counterparty Shorts/FUDs, but in fact you’re just helping the broker to maintain the fiction of a market. The brokers frontrun and trade against the customers, making a commission both ways.

When you watch Fox or CNN you think you’re getting the drop on those Horrible Counterparty Commies/Fascists, but in fact you’re just helping both CNN and Fox to maintain the fiction of debate. The media moguls are the same people on both sides, getting advertising revenue both ways.

GS and FD were both abolished in the ’80s, allowing stock traders to pose as banks and allowing partisan tricksters to pose as news.