Can regulation be a good thing?
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In a recent news article...
What are peoples thoughts on regulation? Specifically in this case, the banking industry and other high yielding areas...
My own thoughts are, that while I don't enjoy regulation in some aspects of life, I believe that the large banking companies have shown that they are beyond greedy and will do anything in there power to make a couple extra dollars. With that in mind I really have no problem with the government taking large steps toward regulation in a sector of business that is so large it literally isn't allowed to fail, especially with the type of people that are apparently leading some of these Co's... (AIG anyone?)
I just thought that this was an interesting quote because from some of the other topics I've seen... like South Asian countries banning hentai and whatnot, its interesting to see America come up with a quote like this. I do have to say though that some large business, unchecked can do some pretty aweful things...
Thoughts... Comments?
It also said the United States "will lead the effort to improve regulation and supervision around the world."
What are peoples thoughts on regulation? Specifically in this case, the banking industry and other high yielding areas...
My own thoughts are, that while I don't enjoy regulation in some aspects of life, I believe that the large banking companies have shown that they are beyond greedy and will do anything in there power to make a couple extra dollars. With that in mind I really have no problem with the government taking large steps toward regulation in a sector of business that is so large it literally isn't allowed to fail, especially with the type of people that are apparently leading some of these Co's... (AIG anyone?)
I just thought that this was an interesting quote because from some of the other topics I've seen... like South Asian countries banning hentai and whatnot, its interesting to see America come up with a quote like this. I do have to say though that some large business, unchecked can do some pretty aweful things...
Thoughts... Comments?
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I think regulation is generally a good thing, as human greed often leads to tragedy, if not regulated.
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For me it is one of those cases of "desperate times call for desperate measures." I'm never fond of regulation, but I can't pretend that there aren't organizations who flat out take advantage of the lack of such regulation and screw themselves and their clients over only to expect the government to save them from drowning (i.e. banks, credit, and insurance companies.)
As much as I don't like it I feel the government has to step in and be a regulatory force in all three of those branches for many years to come. Otherwise they'll just go back and give out bad loans (loans clients can't afford), and generally take any advantage they can to take advantage of their clients.
As much as I don't like it I feel the government has to step in and be a regulatory force in all three of those branches for many years to come. Otherwise they'll just go back and give out bad loans (loans clients can't afford), and generally take any advantage they can to take advantage of their clients.
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Well of course regulation can be a good thing, but it is equally capable of being a bad thing if let out of control. I think regulation is good for companies in the most part. Regulation is needed for ensuring there are no monopolies. If we didn’t regulate it then it would only become a growing problem of one company dominating others.
Pollution is another thing that needs to be regulated, if we did not regulate the pollution companies put out then we would be littered with a polluted environment, which would cause health problems.
Of course a big deal should be price’s and wages, if let out of control prices would be too high and wages to low.
Employment is another problem that is tough to ignore. We can’t allow companies to discriminate on employment and promotions. We have to enforce a way of employing that is fair and unbiased for everyone (or at least as close as we can get).
Pollution is another thing that needs to be regulated, if we did not regulate the pollution companies put out then we would be littered with a polluted environment, which would cause health problems.
Of course a big deal should be price’s and wages, if let out of control prices would be too high and wages to low.
Employment is another problem that is tough to ignore. We can’t allow companies to discriminate on employment and promotions. We have to enforce a way of employing that is fair and unbiased for everyone (or at least as close as we can get).
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Regulation is neither inherently good nor bad. Therefore, it can be good, if done right, and it can be bad, if done wrong.
That said, I think that good regulation is strongly favorable to no regulation at all, because regulation is the only protection the weak have against the strong (mob rule; laissez-faire capitalism; you name it).
Since I adhere to the principle that the economy should serve society and not vice versa, I think diligent regulation in economic matters necessary at all times, as the goals of any individual business are always diametrically opposed to the greater good of society at large, or that of the individual human.
That said, I think that good regulation is strongly favorable to no regulation at all, because regulation is the only protection the weak have against the strong (mob rule; laissez-faire capitalism; you name it).
Since I adhere to the principle that the economy should serve society and not vice versa, I think diligent regulation in economic matters necessary at all times, as the goals of any individual business are always diametrically opposed to the greater good of society at large, or that of the individual human.
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Based off the quote, the U.S. needs to keeps its hands off of world affairs and regulation simply because it can't handle it. We lost Vietnam War, and then fought a war on two nations, Afganistan and Iraq, which only contributed to U.S.'s list of problems. (Who knows if we're doing more good than harm.) Point is, I think the U.S. has overreached itself globally and now is the time for the U.S. to withdraw, regroup, reorganize, and restructure itself, recession aside. Then it can go back to its usual gig because without regulation, things will go out of control. (like this recession)
In context to the question, yes, regulation is absolutely needed to fix the financial situation. Banks are giving out loans to people who don't deserve them, and then they can't pay up the mortgage and interest rates, which led to mortgage delinquincies and foreclosures, which ultimately led to our current sub-prime mortgage crisis because of lack of demand. (I'm oversimplifying it, but that's the general gist.) We NEED regulation, and in certain sectors of business such as the banking and financial industries.
As for Asian nations banning hentai, fuck them for not knowing the delights of H. They missed out too much, which explains their regulation.
In context to the question, yes, regulation is absolutely needed to fix the financial situation. Banks are giving out loans to people who don't deserve them, and then they can't pay up the mortgage and interest rates, which led to mortgage delinquincies and foreclosures, which ultimately led to our current sub-prime mortgage crisis because of lack of demand. (I'm oversimplifying it, but that's the general gist.) We NEED regulation, and in certain sectors of business such as the banking and financial industries.
As for Asian nations banning hentai, fuck them for not knowing the delights of H. They missed out too much, which explains their regulation.
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GinIchimaru_09 wrote...
Of course a big deal should be price’s and wages, if let out of control prices would be too high and wages to low.The nature of competition in capitalism would actual drive prices down and wages up. Companies would pay higher wages trying to attract better employees and prices would go down as they are trying to attract more customers. Look at walmart, as much as I dislike the company they are a good example of this. The prices there are lower than the competitors. Walmart is such a powerful market tool that companies will bend over backwards for to get their product on their shelf which includes keep prices lower.
The only regulation within the "wage" area is a minimum wage otherwise people will work for next to nothing. That minimum wage should be kept low and the reason for this is the people who work for minimum wage are 9/10 students in either college or high school. These jobs don't require skill and are entry level jobs. Also raising minimum wage only brings people down to minimum wage. If I was working for 7/hr and then minimum wage is brought up to 7/hr then I'm not at minimum wage.
On the topic of regulation I'm a minimalist. Unlike some other Libertarians who want a full unregulated laissez faire system. I would like as little regulation as possible but, each piece of regulation to be significant. Things I don't mind regulation on are issues of public health. No asbestos in your walls, no lead in you paint. Things that don't really follow the mantra of "let the market decide". Warning labels are another good example of regulation I support.
As long as the regulation doesn't have a huge impact on he economy as a whole such as cap & trade.
Regulation affects more than you think. This affects almost all employers from small family owned companies to large multinational ones. These are our employers. The people who help us put money in our wallets, food in our stomachs and loli's in our..where ever you keep your loli. The point is, in the end whatever affects them affects us as employees.
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g-money wrote...
Based off the quote, the U.S. needs to keeps its hands off of world affairs and regulation simply because it can't handle it. We lost Vietnam War, and then fought a war on two nations, Afganistan and Iraq, which only contributed to U.S.'s list of problems. (Who knows if we're doing more good than harm.) Point is, I think the U.S. has overreached itself globally and now is the time for the U.S. to withdraw, regroup, reorganize, and restructure itself, recession aside. Then it can go back to its usual gig because without regulation, things will go out of control. (like this recession)In context to the question, yes, regulation is absolutely needed to fix the financial situation. Banks are giving out loans to people who don't deserve them, and then they can't pay up the mortgage and interest rates, which led to mortgage delinquincies and foreclosures, which ultimately led to our current sub-prime mortgage crisis because of lack of demand. (I'm oversimplifying it, but that's the general gist.) We NEED regulation, and in certain sectors of business such as the banking and financial industries.
As for Asian nations banning hentai, fuck them for not knowing the delights of H. They missed out too much, which explains their regulation.
Wow, that is totally what I was trying to say in a few posts, but could never manage to get it out. I'll +rep that when I have the chance. You'll probably have to remind me again though. XD
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Well, even if I can't really tell for the US case, I think regulation is a good thing, when it's done by inteligent people. But all kind of regulation are not to be placed at the same level.
For the current Bank problem, I indeed think we need more regulation, or maybe a more respected regulation. The world being what it is, the greatest market place ever, we need a global regulation of it. But again, the world being what it is, this seems pretty ambitious, or even an utopia. But I'm for encouraging a more respectful economy. The first point being the regulation of too random and hasardous placements, for the little people as well for bank and traders. This would considerably lower the risks of coming up with more crisis. (I know this will also lower interest in capitalism and market economy, because taking risk is the only way to double your bets, and then less investments, etc ... But try to shift to another economic theory wouldn't be a bad idea). Secondly, be a bit more stricter in what's currently done in this area (yeah, be sure there's already regulation there) by dispatching more inspectors to check if everything goes well, particularly in risky places like banks.
For the current Bank problem, I indeed think we need more regulation, or maybe a more respected regulation. The world being what it is, the greatest market place ever, we need a global regulation of it. But again, the world being what it is, this seems pretty ambitious, or even an utopia. But I'm for encouraging a more respectful economy. The first point being the regulation of too random and hasardous placements, for the little people as well for bank and traders. This would considerably lower the risks of coming up with more crisis. (I know this will also lower interest in capitalism and market economy, because taking risk is the only way to double your bets, and then less investments, etc ... But try to shift to another economic theory wouldn't be a bad idea). Secondly, be a bit more stricter in what's currently done in this area (yeah, be sure there's already regulation there) by dispatching more inspectors to check if everything goes well, particularly in risky places like banks.
