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Kane, I agree that a primary role of government, granted in the Constitution, is to regulate interstate commerce. This is effectively done through regulatory agencies such as HUD/FHA, SEC, NASD, FAA, FCC, and so forth. We have laws on the books that are not being enforced allowing corporations and entire industries to operate "at will" with no accoutability until the shit hits the fan. Then the Politicians call for an entire industry overhaul. Example: healthcare. I sold health insurance for several years. Health insurance in AZ is very affordable through a variety of carriers. If Washington wants to overhaul the healthcare industry, start with the lawyers and tort reform limiting liable payouts from occurances that were truly accidents. Gynocologists have to join local professional OB/GYN groups in order to afford malpractice insurance. They are the most sued medical group in america. The docotor that wants nothing more than your baby to come into world healthy and well is the one who gets sued the most. The ONE doctor who acts on the spur of a moment, when you baby is ready to come into the world, is the one who has to worry if your going to take him/her for everything your ambulence chasing - John Edwards - lawyer can get. Reduce that abuse and you'll see premiums drop remarkebly.
Why did the SEC not stop Madoff 10 YEARS AGO when they were originally tipped off? Why did the SEC not investigate Credit Default Swaps and Deriviatives when notified in 2003 that they are out there unregulated and heavily traded between banks, insurance companies and uber large multi national corporations? Why did Barney Franks, Mass. Senator and Chairman of the Senate Finance and Banking Comittee, turn a blind eye to Fannie Mae and Freddie Mac's terrible lending guidelines? Also, isn't he the Distinguished Congressman who took a multi million dollar home loan from Countrywide with no payback rquirements? That's like the fox gaurding the hen house.
My point is, yes we need reform in all major sectors of our economy. But, we do not need to throw the baby out the window with the water. Look at the current laws and enforcememnt of those laws. Get the agencies in order and go stop the bad guys. We do not need one of the world's largest industries taken oven by Washington in order to make it effecient.
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