FinReg and the Farmers

By Megan McArdle

I do not feel quite as strongly as Edmund Andrews, but I have to say, I was underimpressed by this article in the Wall Street Journal today, touting the effects of financial reform on farmers.  I've seen no indication that farm futures are going to be harmed by derivatives regulation, and the rest of it consists of saying, basically, "Some people are worried that they might not be able to get loans."  By that logic, plane tickets to Vegas are an equally big problem for farmers.

It's not that I don't worry that FinReg will have harmful effects on the credit markets.  But I think an article needs a little more than random fretting.  On the other hand, I think Andrews is far too quick to deduce editorial bias, especially based on a headline that was probably written by some rushed assistant.  It's a slow news month and FinReg seems to be moving forward in geologic time.  Maybe both editors and reporters were just desperate for something to fill the front page.

This article available online at:

http://www.theatlantic.com/business/archive/2010/07/finreg-and-the-farmers/59773/