John Smith
05-06-2010, 06:43 AM
I'd like to share this, and encourage all to write their papers on important matters
We are at an interesting intersection of time and space, as Rod Sterling used to say. We have seen the economic devastation from an insufficiently regulated financial industry. We are witnessing the ecological devastation of an insufficiently regulated oil industry.
What better examples could we ever find to show the danger of capitalism without regulations? That private industry, driving by profit alone, can be a dangerous thing.
There is a proposal in Congress to raise the ceiling on liability for costs from this type of incident from $75 million to $10 billion. Why, I ask, should their liability be limited. When this comes to a taxpayer bail out of the fishing industry, who limits our liability?
Congress is being forced by circumstances to address this issue, as they are now addressing financial regulation. Let us encourage them to do their job and promote the general welfare of the people. Without regulations preventing things like this spill and the Wall Street collapse, we, the people, simply cannot afford capitalism.
We are at an interesting intersection of time and space, as Rod Sterling used to say. We have seen the economic devastation from an insufficiently regulated financial industry. We are witnessing the ecological devastation of an insufficiently regulated oil industry.
What better examples could we ever find to show the danger of capitalism without regulations? That private industry, driving by profit alone, can be a dangerous thing.
There is a proposal in Congress to raise the ceiling on liability for costs from this type of incident from $75 million to $10 billion. Why, I ask, should their liability be limited. When this comes to a taxpayer bail out of the fishing industry, who limits our liability?
Congress is being forced by circumstances to address this issue, as they are now addressing financial regulation. Let us encourage them to do their job and promote the general welfare of the people. Without regulations preventing things like this spill and the Wall Street collapse, we, the people, simply cannot afford capitalism.