Vail Daily letter: Fox and chicken coop
Vail, CO, Colorado
I honestly don’t know what world some letter writers are living in, but it can’t be this one.
Robert Hemmerich claims that our economic woes have nothing to do with a free market and that there is already too much regulation in business.
I am beyond bewildered.
There is nothing Fannie Mae, Freddie Mac, AIG and Goldman Sachs did to destroy this country’s economy that a little regulation wouldn’t have been able to prevent. That is absolutely irrefutable as far as I am concerned.
The problem with Hemmerich’s argument that “the imposed discipline of free
markets” is all it takes is that
it entrusts those who cannot
be trusted, and who have demonstrated repeatedly that they cannot be trusted, to behave honestly, ethically and honorably.
Regulation needn’t be a dirty word. It simply means rules, and rules are good when they protect us all from the kinds of gross abuses Wall Street has heaped upon us of late.
All financial arguments from the right seem to miss this point repeatedly. Just like anything else, rules and laws would not be needed if everyone just behaved properly. But since we know that won’t happen, we have laws.
It would be nice if people could merely be trusted not to steal, rape, murder or drive drunk. But the world would be unmanageable if we governed by the honor system. So because of the thieves, murderers, rapists and drunken drivers who admittedly are a small percentage of the population, we are all subject to laws.
Likewise, because of those who rape us financially, all businesses must pay the price by being subject to regulation. If American corporations would simply be worthy of our trust, then they would receive it.
And Paris Hilton will win a Best Actress Oscar.
Where I wholeheartedly agree with Hemmerich is in the arena of small business. I have been a small-business owner, and it is indeed damn hard to get a new enterprise off the ground.
In this economy, I can only imagine what a nightmare it
is. Beginning entrepreneurs need help if they are going to make it. But that help should be in the form of tax breaks and incentives, not freedom to do whatever they please, make a mess of things for everyone
else or employ shady business practices.