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There's just nothing quite like capitalism

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HK

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First recorded activity by BoatBanter: May 2007

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There's just nothing quite like capitalism

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On Thu, 31 Jan 2008 11:40:20 -0500, HK wrote:

I think that once that story gets around that part of the mortgage
problem will self regulate. Fund investors will demand more
accountability about where their money is going.

Self regulation is the "Bush" approach, and either results in no
regulation at all or incompetent regulation. Chinese toys, anyone? Or
how about prescription drugs that are manufactured in China and sold
here, without factory inspections? How about the lack of inspection of
food? Self-regulation is little more than PR.

Regulation only makes the crooks look for loopholes in the process. By
the time you plug all the loopholes the regulation becomes a drag on
the process and innovation stops.
At a certain point we have to understand life is tough, wear a cup.
The government can't protect you from a dedicated thief.

Yeah, let's just unregulate everything. That's the ticket.

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