[quote=CONCHO] …..I guess the only thing I’ve learned is that whenever some guy in a suit is on TV telling me that he’s going to solve my problems, I know I’m about to get screwed….[/quote]
I can agree to that easily:)
From what I have seen, bad regulation will really screw things up eventually. You can get bad regulation in lots of ways. One of the many ways is plain absence – too little regulation of what needs regulating. Another way is to have just the right amount of regulation, but the regulations direct people to do the wrong things. A third way is too much regulation – nothing productive gets done ‘inside’ the regulated system, and the regulations restrict productive enterprises outside the system. Corruption inside the government becomes rampant.
Right now, politicians are making lots of calls to the new regulators to direct money to their backers and their voters. The new bailout was a product of those calls. It benefits both institutions and individuals. The only uniting trait amongst the beneficiaries is irresponsibility. I am not hopeful that we are going to a better system.
