Roger Ver Quotes
Setting regulatory certainty is very important for bitcoin. I'm opposed to the regulations, but the bitcoin businesses need to know the rules of the game in order to move ahead.
Ver, Roger. Quoted in "Bitcoin Firms Seek Regulatory Clarity," CoinDesk, 2014.
He was referring to Fannie Mae, the government-created. private mortage guarantee company. It was heavily regulated, and in general it met the regulatory requirements. However, the requirements were insufficient, and in the 2008 Meltdown and the Great Recession that followed, Fannie Mae itself was in such bad financial condition, that the Federal Government had bail them out or have the entire home mortgage industry fall apart.
Federal rulemaking is a complicated arcane process as a result of Congress making it harder for Federal agencies to make rules. Although Congress could legislate any rules, many members prefer not to go on ecord as supporting some rules. Others watch what the public reaction is and if good, they support it and take credit and if bad, they complain of the "overreach of unelected bureaucrats". However, they do not want rulemaking to be fast or efficient; they want the time to decide where they stand. IN 2017 The incomming Trump Administration wanted to repeal many of the Federal Rules that had been made in the previous Obama Administration. However Trump and his team was not very experienced politically and ran against the politicians. They were surprised that it was as hard to repeal Federal Rules as it was to make them in the first place as this quotation explained
He and others believe that no matter what regulatioms government officials might impose, Wall Street, the banks and financeers will find a way around the reulations.
Many corporate executives were claiming that they were not investing in growth and jobs because they were uncertain about the future tax rates or regulatory environment with which they would be coping. But with elections coming up, there has never been such certainty, and much of the best growth in American business was in the Clinton administration where these policies were under constant debate. Immelt identified the real problem: Demand for products and services was very weak.
Roger Keith Ver is an early investor in bitcoin, bitcoin-related startups and an early promoter of bitcoin. He calls himself the "Bitcoin Jesus" for his promotion of bitcoin. He now promotes Bitcoin Cash.