Getting ready to buy a pig in a poke
The retail melt down has affected us all in one way or another. The damage will be felt though for decades to come if we let the government succeed in adding more regulations. Basically their idea is to let the “Fed” oversee investment banks, brokers, etc. with more regulation.
The “Fed” is made up of investment bankers and others nominated or appointed by their bank. So what we will have here is the banks regulating banks - doesn’t seem right to me. Does that mean the Fed will be more helpful to banks? More likely to bail them out if they have problems? More likely to defend them if their practices are predatory?
You can read or skim the attachment on the Federal Reserve System. No doubt the Fed has done a fairly good job but more regulation is a waste. Enforce the laws we have now before you think about new ones.We do not need more expenses from our government.
If the government made beer, it would cost $50 a six-pack. We all know that. Just because you don’t drink beer or understand how it is made, would you let the government take over? Because they tell you it will be better for you?
The sad part is we really have very little to say in this matter. The wealthy, privileged, know-it-all’s will continue to make decisions “in the best interest” for the rest of us. Another great reason to go camping.
