We are now paying for a Pound of Cure, because those in charge did not want to pay for an Ounce of Prevention.
While it is true that these economic events occurr as cycles and eventually it will work its way out, a better, wiser handling of the system could have made a softer, less costly landing when the apogee eventually dissolved into this nadir.
Yes, I am talking about Regulation.
This administration prides itself for being Anti-regulation.
It avoids making any, that is for sure.
But the ones that were supposedly in place they chose to ignore or weakly tended.
The greed factor, uncontrolled, did in the housing market and then the banks.
Not just by galloping speculators and active manipulators but even the passive players whose retirement funds and life long savings have been carelessly abused and threatened.
This is true regarding those whose shirked responsibilities have endangered our lives, welfare, and happiness. Public safety, consumer protection, environmental degradation all have taken heavy hits while the administration has placed loyal (to Bush) but incompetent people in charge of regulation adherence. In all departments of governance and oversight.
Lead in toys, Hurricane Katrina, marketing of poorly tested drugs, 9/11, and now this with the homes and the banks and the Wall Street firms.
This Gigantic Colossal Melt Down of the Financial Network.
Despite warnings they were asleep at the wheel, yet again.
Having ignored or repealed regulations that would have made things better.
And now another Anti-Regulator wants to keep steering our Ship of State in the same manner.
I don't think so. Not if I can help it.
by steven bolstad
POLITIX
The
warnings may have
been there,
but who was minding the shop?
The Bush administration has favored sycophants over
competence
yet again.
