An article from The New York Times, Why Business Needs a More Powerful S.E.C.
First off a quote "Do you want to be subject to the varying laws, whims and political aspirations of 50 egos in 50 states? If the vacuum in Washington persists, rest assured that you will be." Instead of suggesting repealing the laws that he acknowledges are subjective and varying he proposes stronger regulations. Basicly the question is would you rather what we have or do you want to be subject to the whims and political aspirations of the headless gargoyle know as "The People". The only outcome of enforcing morals at the point of a gun is finding the gun turned back at you held by a man asking, "What are morals but edicts of the people, brother?"
The point on stock prices and people being unwilling to invest in companies who they suspect of wrong-doing begs a question. When did the government, who's track-record of lies and deciet that stretches from its very foundation become more reputable and respected than the judgement of an individual stock buyer? Once again the government wants to step in not to return confidence to the market but to alleviate you from the responsibility of thinking, and the consequences of not. Companies whose executives are un-trustworthy will not be invested in, leading them to ruin, that is how capitalism works.
One more quote. "So, chief executives, it's time to call your pals in Washington. After all the money you give them, they'll be happy to hear from you. " This is the exact way we got in to the problem. Allowing government interference in the market can only lead to pressure groups spending huge sums to make sure their gang has bigger guns.
4:40:39 PM
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