Eric Singer dropped a phrase that amused me during our interview today on BRAINSTORMIN’ with Billy the Brain.
He said that US politicians have the same time horizon as Somali Pirates. A Somali pirate’s time frame is about 120 days—30 days to capture a ship and 90 days to ransom it.
US Politicians are on the same time frame because there are 120 days, more or less, before the November elections. Therefore, any US Politician up for reelection will act in such a way that their decision pays dividends sometime in the next 120 days.
Hmmm. That may explain why our financial reform bill is the way it is. Pretty packaging on the outside to satisfy any reelection requirements that we acted on financial reform, but many loopholes and oversights upon closer examination.