The Voice of Reason
Doctor of Thinkology
Greed has always been a bane of mankind, and the governing systems we employ to help us manage our affairs.
The very point of regulation of the market (and the regulation of how companies conduct business) is to exert control to prevent people from "gaming" the system to the point of harming it. That is why the Glass-Steagall Act was enacted, and why it was so important.
Our problem in this day and age is that the people that have the inclination to use massive money to corrupt the system are getting smarter and more inventive as time goes by.
Greenspan's admission was right, even if it was late in coming.
The bad news is, there are people in our government that still don't "get it", when it comes to regulating companies. If you think BP is willing to take short cuts to get to the oil now, just imagine how responsibly they would act if there were no rules at all.
The very point of regulation of the market (and the regulation of how companies conduct business) is to exert control to prevent people from "gaming" the system to the point of harming it. That is why the Glass-Steagall Act was enacted, and why it was so important.
Our problem in this day and age is that the people that have the inclination to use massive money to corrupt the system are getting smarter and more inventive as time goes by.
Greenspan's admission was right, even if it was late in coming.
The bad news is, there are people in our government that still don't "get it", when it comes to regulating companies. If you think BP is willing to take short cuts to get to the oil now, just imagine how responsibly they would act if there were no rules at all.