Reactions And Regulations

Reactions And Regulations

Manipulating the system, outwitting the “bigger fool,” favoring “truthiness” over the truth, maneuvering around the rules and any other description of the time-honored American tradition of the confidence, or con, game – all of this reached new levels of intensity and practice early in the twenty-first century, prompting us to describe the phenomenon as the Gaming of Nearly Everything. In fact, gaming in everyday life became so widespread that it eventually provided entertainment, as television shows – often called reality programs – sought to make games of every detail of life, from finding a spouse to landing a job. And poker – the height of “playing” or tricking the opponent with a “poker face” – became a cable-television staple. Moreover, taking advantage of the innocent reached a kind of apotheosis with the financial shenanigans of Wall Street, all wrapped neatly in a gamer-versus-gamer story told in a book and a movie, The Big Short. But recently, governments and observers have started to crack down on trickery in the marketplace, focusing on three arenas: Gaming, Secrecy and Market Balance (Fairness). Are these anomalies in the regulatory realm or are they signals of more things to come?

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