I have been reading about how the Republicans, since they have control of the Congress, had decided to begin deregulating various industries.
When you think about deregulation, or even just regulation in general, you might imagine that this implies regulators are carefully watching what these industries are doing.
These would be the kind of people who caught the mistakes that the financial people were making on those derivative asset transaction, put a stop to it and, saved our economy.
OH, I’m sorry. They hadn’t a clue.
Above is from the wikipedia about the great Bernard Madoff, and tells how the swift action by the Securities Exchange Commission was able to thwart is evil schemes.. NOT
It would appear that they were too busy looking for porn or playing poker, on their computers, to peer into what had been reported to them on several occasions.
Now everyone knows about the wonderful regulators who prevented BP’s Deep Horizon disaster, right? You don’t know about it because they never prevented it, and as yet there is no evidence that they even had a clue, or cared.
These are some of the groups that the Republicans believe, obviously, are over regulated and must be deregulated in order to get them going again, so they can help fix our broken economy.
Do we need this? No. What we do need are people in those jobs that are qulified to do them, and have a will to do so. The very idea that our elected represenative wish to reduce oversight of these industries, or others, shows that they are probably less interested in the public interest than that of the corparations that contribute to keeping them in office.