No letters for Sunday:
April 21st
May 26th
I will be driving all day on June 2nd and in lieu of a Substack, I will be hosting a Twitter “Ask Me Anything” — you’ll be doing me a service to keep me awake!
Yesterday I toured Montpelier, the home of James Madison.
Standing outside the David Rubinstein Welcome Center (“Private Equity presents The Hall of Presidents!”), I was struck by the oft-forgotten reality that the Constitution of the United States is a mere four pages long:
Meanwhile, the Code of Federal Regulations is now over 185,000 pages.
A humble reminder that when we say we want “small government” we mean MORE of the former and LESS of the latter.
Enjoy your weekend.