Comments on: Communities of color need financial protections Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: usbychoice Thu, 20 May 2010 15:22:18 +0000 The problem is that social scientists believe we, the common citizens, need to be protected from ourselves by government through “regulation”. Government regulation of the economy in reality means that the burden will ultimately be on the taxpayer through taxes and inflation. Those involved in unethical business practices whether individuals or corporations will always find a way around any regulation requiring even further regulations. This becomes a vicious cycle that chips away at our basic freedom. Unethical business practices should be resolved in the court of public opinion. Government best serves to educate people against potential economic predation not by choking free enterprise. You can parade all the reports and data showing how we are being taken advantage of by the financial world but it all boils down to individual fiscal responsibility. People should realize that morality and ethics begins with our individual actions. A proper government should concern itself with the education of it’s citizens in basic financial practices. Securing credit should not be seen as an opportunity to collaborate in unethical or fraudulent practices because we are assured access to easy money that government (taxpayers) will be there to serve as “bailers of last resort”.