From http://www.lewrockwell.com/blog/lewrw/archives/022865.html
McBama: More Regulation Needed to Solve Financial CrisisPosted by Mike Tennant at September 15, 2008 08:00 AM
Obama says the ongoing crisis is the result of "[e]ight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans"; the obvious solution is more regulations.
McCain, on the other hand, says the problem is "the outdated and ineffective patchwork quilt of regulatory oversight in Washington," for which he promises reform, not abolition. Furthermore, he wants to "bring transparency and accountability to Wall Street," which can only mean additional regulations.
Once again an election promises to offer an echo, not a choice.
2 comments:
Well here is my two cents, for conservation:
Both and the author assume that there is currently any regulation. It's not 'more' regulation that is needed, it is efficient, effective, impartial and professional regulation; which does not require more regulations, it only requires that their is the will, integrity and honour to enforce the regulations, and to succinctly clarify the regulations, without all the current built in intentional loopholes, etc.
JMCSwan
What I really meant in my previous response to you was describing a "conversation." I made a typing error. It happens. You appear to be mocking my words. If you are, this has nothing to do with this issue at all.
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