…of ignorance. The amazing (and frightening) thing is how alien the concept of moral hazard is to people running this country.
8 thoughts on “A Perfect Storm”
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…of ignorance. The amazing (and frightening) thing is how alien the concept of moral hazard is to people running this country.
Comments are closed.
I’d support a politician / movement that tried to repeal laws instead of making more of them. How many more years before we go down under the weight of all the red tape and un-intended consequences?
I agree strongly with Eric. Let’s start with replacing the tax code with something absurdly simple
Getting rid of the bloat in the federal bureaucracy wouldn’t hurt either.
Repealing laws, either outright or by mandating sunset rules, sounds as beneficial as term limits in the Senate, at least on paper. It’s a great campaign speech for potential Libertarian candidates, as well.
But then, something happens when people get to D.C. and decide that, to be able to “really make a significant change”, they need to “stick around as long as possible to make sure that things get done the right way”, and then they forget all about that pesky campaign speech in which they promised to push for term limits, sunset clauses, etc. After all, if the mandate for a sunset clause is so great, why should the sunset mandate be subject to sunsetting?
Before you know it, you’re voting on 2,000 page bills which you haven’t read, save the paragraph on page 1396 that you personally wrote, believe in, and are voting for.
Welcome to D.C. It’s almost in as much of a vacuum of reality as Hollywood.
…if the mandate for a sunset clause is so great, why should the sunset mandate be subject to sunsetting?
That’s why you make it a Constitutional amendment.
There’s a sunset clause for that, too — a leftist SCOTUS majority.
Free enterprise is a self regulating system. Make bad decisions… go out of business leaving better decision makers to continue. It does not require any other regulation at all but one… transparency. There’s no shortage at all of people that want to start banks. Banks are a very profitable business.
With transparency, everybody would know if a bank held 2% or 10% cash reserves and the consumers would regulate them with their feet more effectively than any number of idiot congress-critters back in Washington.
Organizations like the SEC and others are supposed to protect the public. They don’t really. It institutionalizes favoritism the same way a casino is allowed a house advantage. Favoritism and Cronyism are the sins of our elected officials. We need to start fresh.
At least he didn’t get arrested in Arizona. They have some of the most severe penalties in the US. Read about the penalties enforced under Arizona DUI law, not too pretty.