27 March 2009

Cal Thomas on Regulating Wall Street: Aaargh!

I just read by Cal Thomas called "Channeling Anger", published on 24 March '09 by the Cagle Post [http://www.caglepost.com/column/Cal+Thomas/131322/Challenging+Anger.html]. If I didn't know better, I'd have tought it was satire (that's satire with a 't', not Safire with an 'f'-- I don't always agree with Safire, but he writes better).

Cal Thomas's idea that we should just let the leaders of Big Business govern themselves (as they have been doing since deregulation) and just enforce the laws as they now stand (none of which seem to have been broken) makes me wonder whether he's rolling his own. Are the politicians the best people to regulate Big Business? Perhps not, but they happen to be the Government of the United States of America, which means it is their job. And no, they haven't been doing it.

Thomas's saying it's a bipartisan problem, then rattling off the names of the members of only one party, simply made him look a little silly-- as though he got up from his desk to go to the john mid-article, and when he returned he'd forgotten what he'd previously written.

What has happened with Detroit and Wall Street is what happens when you deregulate... when you tell the people who make the profits that they also get to make the rules, then they make the rules that'll make the most profits.

If you ensure that the people who make the rules-- that is, our elected legislators-- cannot benefit from those rules... which means getting rid of the corporate lobbyists, then perhaps things will be better next time around. Too late for this time, I'm afraid-- the Teapot Dome Scandal (oops, I meant the housing mortgage market scandal) has already done its damage, and the whole world is suffering (and some children starving to death) because of the greed of a few.

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