I was watching the news this morning about the American Airlines debacle and I blame that on the Republicans. Their philosophy of letting businesses regulated themselves.
We have seen the results of their policies in their oversight of the SEC, Federal Banking Commission, FDA, FAA, EPA and the list can go on and on.
We have all seen the results of lax regulation; Enron, Sub-prime loans, all of the drugs that are being recalled, all the recalls of produce and meats, the grounding the American Airline fleet, increase pollution.
We all hate regulation, but over the years we had learned that businesses would not protect the public and that we had to regulation them for the health and safety of the public. If I remember correctly, it was J K Galbraith that said government must balance business and labor, I think we can also say that government should balance the public safety (both financial and physical safety) with the greed of business. We have lost that balance, its seems like this administration just threw out that wisdom and crawled back into bed with big business. As a result we are now in this downward spiral with the economy. We need to find our balance point again.
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