Comments on: The slow death of the regulatory state

By: Tom_MacKnight

Tom_MacKnight — Mon, 07 Jun 2010 20:12:42 +0000

Yes, you are correct. No one should believe for a second that industry self-regulation could be a cure. Weak, compromised regulators were the problem in the cases you cite. I say make the regulators responsible. Rip their hearts out (metaphorically speaking) if they fail at their assigned task of regulation. Line those in industry who were in any way involved in these failure and rip their hearts out too. We seem to have learned as a society that drunk drivers are a hazard to society. These folks are too. A little round of prison time to all involved! Make it easier to prosecute by law or persecute by regulating board. The public is still hopping mad that Wall Street, coal mine owners, and now oil men get away with what they do and spend no time in jail or receive any punitive action. Don’t make the company responsible, make it an individual responsibility. When someone fears for their job, their life, and their livelihood – when they fear incarceration – that’s when folks straighten up and give up industry’s version of drunk driving.

By: Warburton

Warburton — Sun, 06 Jun 2010 03:19:20 +0000

Apologies to John Kemp for my comment earlier today. I should have read his article more carefully as it is very well written an indeed pertinent,

By: Todd2

Todd2 — Sat, 05 Jun 2010 19:52:52 +0000

Free enterprise is a myth. In the U.S., we don’t have open, fair, and competitive markets. We have unfair regulations that ensure the market dominance of monopolistic oligopolies. Deregulation simply unleashed “the animal spirits of capitalism” to run rough-shod all over consumers and to exploit the masses. How else can we explain pay-day lenders in all our inner cities charging 400% annual interest rates, credit cards with up to 29% APRs, exhorbinant bank fees, unsustainable subprime mortgages, and predatory lending practices?

By: VancouverBC

VancouverBC — Sat, 05 Jun 2010 19:12:52 +0000

Regulations have to be knocked down to simple effective rules people can actually follow. Regulations written by lawyers are inherently self-interested to require more lawyers to interpret.

By: 2pesos

2pesos — Sat, 05 Jun 2010 17:55:10 +0000

This is Reuters commentary at it’s best, I hadn’t thought about some of this stuff. However I have often heard it said “we don’t need more laws, just enforce the ones we have”.

By: Illinois

Illinois — Sat, 05 Jun 2010 16:59:33 +0000

Well written!

I think of regulations like a chain, each one being a link, the ones that are huge examples of sloppy thinking are the ones that naturally get all the attention.

I do see the “chain” getting infinitly longer by the day though. I see an “end game” for that modus operandi in which regulators will all be in a “state of shocked disbelief”.

IMO: The industrial revolution has been like a tornado in a trailer park with the human race. We have collectively gotten to big for our breeches, we can either slow down voluntarily, or non-voluntarily, but we will.

By: ptiffany

ptiffany — Sat, 05 Jun 2010 16:42:02 +0000

Thank you for a reasoned discussion of regulation. In recent years, such subjects have been buried in political sound bites.

You have hit on several of the issues that cloud regulation. Yes, we are buried in regulations that are not enforced while still lacking some rather common-sense rules. It’s no wonder that modestly intelligent people have a sense of derision toward regulators and regulations. Most of us have contributed to the failure of such regulations to moderate our interactions.

It should be obvious that self-interest is inadequate to curtail common, excessive greed. We have revered greed far too long.

By: DrNewdell

DrNewdell — Sat, 05 Jun 2010 16:37:28 +0000

It appears on quick glance that the author has no faith in the basic theory of the free market. Leave people alone, let the free market do it’s work, and we shouldn’t need government regulation. One State in the USA with NO taxes and NO regulation would likely become the most prosperous location in the world within 10-years.

By: CalinCA

CalinCA — Sat, 05 Jun 2010 16:16:00 +0000

I am amazed at how people think they can regulate integrity and are shocked when somebody breaks a law. If you really could, people wouldn’t be going around with guns robbing 7/11′s.

But…we’ll elect some more people who feel they have a mandate to go pass some more laws so they can justify their “power” and go home thinking they did a good job today. And tomorrow, somebody will figure out a way around it.

Until you make the penalty not worth committing the crime, people will break the law. Won’t stop it, but will certainly cut the crime rate.

By: marcosg39

marcosg39 — Sat, 05 Jun 2010 16:08:07 +0000

so i think agent house should tax low price rent than high bill. agent tax real house sell or sale make mistake alot math. people feel lost job and lay off.. america not fault. u know emoic too high tax bill trillion can’t slove back own bill trillion. please keep people too child stay not leave house or leave build.