Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.
The law is a crude machine at best, and only spits out something approaching justice of its attendants are committed to justice. As lawyering has become less about doing right and more about doing what you can get away with, our standards of acceptable shenanigans-as-usual seem to be in a free fall.
Certain countries long ago succeeded where the U.S. has failed in commercializing their air traffic control systems, putting them in the hands of private or quasi-private operators able to raise capital, charge fees, and invest in growth, free of meddling by congressional pork barons. You want a drone-friendly air traffic control system? This is the place to start. Our FAA isn't blindly anti-drone but simply marooned in a system that still needs thousands of eyeballs gazing at radar terminals and out of cockpit windshields.
