[dvt]

Are you trying to argue that, under your proposed system of laws, we would need to re-litigate (for example) murder or arson for every new generation? Seems a bit silly. Either way, precedent can be freely overturned, so the Securities Act isn't immutable. It's just that most people still think it's a good idea.

[sneak]

Most people aren't aware of securities regulation at all.

Note that I didn't propose any alternate system, I just pointed out that the majority of the laws we live under were not a result of our being represented in any way.

[johngladtj]

Yes, all laws should have expiration dates built in, and the more controversial the law is the shorter that expiration should be.

A law passed 51-49 should not persist after that legislative period has passed.

A law passed 100-0 may be reasonable to persist for 50 years.