Market Ticker: Mother of all Frauds

The claim is that this is intended to "promote confidence and stability" in the financial markets.
It will do no such thing.
It will instead strike terror into the hearts of investors worldwide who hold any sort of paper, whether it be preferred stock, common stock or debt, in any financial entity that happens to be domiciled in the United States, never mind the potential impact on Treasury yields and the United States sovereign credit rating.
I predict that if this passes it will precipitate the mother and father of all financial panics, although exactly when the "short bus" riders who inhabit the equity market will figure it out remains to be seen.
If they have an IQ larger than their shoe size it will commence at 9:30:01 AM Monday morning,