--- In [email protected], gary popkin <garypop...@...> wrote: > > How about this? If there should be regulation, it is still up in the air who > should do the regulating. It is not a foregone conclusion that it should be > government. What about an Underwriters' Labs for stock brokers, which might > arise in the free market if there is a demand for its services. Brokers could > voluntarily submit to scrutiny by Underwriters' Labs, and then display the > lab seal in its advertising, and might have to charge more to cover the cost > of its lab membership. The consumer could choose. There would be no coercion.
Finance is a real issue. They are the biggest contributer to politicians. The SEC is very strict on insider trading though I wonder if they just there to let billionaires do what the rest of us can't. It is so strict, it is illegal for you to buy stock in Lucent because a janitor glimpses at a quarterly report that said they will do better then expected, or just landed a new contract. George Soros got busted for insider trading in France. I would doubt billionaires make decisions in this country without knowing someone. Kind of like the movie Wall Street. Of th industries that need regulation, money and finance is defintely one. Bloomberg has to sue the Federal Reserve to find out who they are giving 9 trillion dollars to. They want to work in secrecy, and manage the entire monetqary system and money supply? And Obama want to give them more power? Not without transparency. Medicine is another. In theory the FDA is a good idea.A long term company wants to stay in business, a short term doesnt care. Companies have to follow laws and ethics the same as individuals. In fact it's gotten to the point, corporations are being used not just to shelter individuals from personal loss, but legal accountability. There is no rational justification why individuals should be able to defraid or commit crimes because they incorporate. The competitive motive doesn't cut it. They should be as accountable as individuals. We have Monsanto selling products to increase milk yield 100 times banned in Europe and Canada because it's so dangerous, with most companies in America putting labels on their saying they don't use it, the FDA, who Monsanto got someone in, claims it is identical to normal milk. Yes, with the exception they used growth hormones on the cow combined with the ecoli virus to make it grow faster, so cows have to be given a lot of antibiotics, which weaken our immunities, the milk is often very tainted, the incidence of cancer much greater. The WHO recently said cell phone have been shown to increase brain tumor. WHile corporations are genreally beneficial, profit good, they are starting to corrupt our system to the point of no return. Buying and selling our information. Our DNA. Helping track us, selling face recognition software to the Chinese to spy on people with surviellience cameras. We have Democrats, no less, writing an Orwellian health care bill, that forces everyone to buy insurance, so its nothing but an HMO stimulus package. I would have to call myself a reformed Libertarian since the bank bailouts. The era of corporate welfare is getting out of control. "I spent 33 years and four months in active military service and during that period I spent most of my time as a high class thug for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents." - General Smedley Butler in "War is a Racket." http://en.wikipedia.org/wiki/Business_Plot
