Re: Government Regulations Are Bad.

Someone posted this as a comment on someone’s blog.

“They” refers to banks:

“they can and should be regulated. Not by government mind you, but rather by an aware public who only puts their money into insitutions whose lending practices that they agree with.  It is hard, but hard work is the price of freedome.”

To which I responded:

“Yes, and people should be restricted so that they can’t drive down the sidewalk and endanger peoples’ lives.  Not by the police, but by informed people who watch them all the time before deciding whether to be their friend.”

To which he said:

“When seconds count the police are only minutes away.  We could solve that problem by making it illegal to hurt other people, or kill other people.”

To which I said:

“So the government should restrict what I do that hurts people, but not what financial institutions do that hurt people?  If you want a bank but without those pesky government regulations they have those – they’re called loan sharks.”

To which he said:

…nothing.

Thought I’d share.

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About agnophilo

Nerd.
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10 Responses to Re: Government Regulations Are Bad.

  1. daavidd says:

    I don’t think we need more regulations, as regulations condition people in such a way that don’t exercise their moral integrity since the rules are imposed. Much like regulation in education, and since the department don’t trust teachers enough to do their jobs, they would instead impose standardize curricula that does not stress on the virtue of learning – thus one can only hope for mediocrity. It’s obvious the problem lies with the fat financiers – instead of more regulations, there need a change of philosophy.

  2. whyzat says:

    I have a regulation to put before congress:  “Be Honest”I tried.

  3. There is a problem though. Our government does not exactly do it’s regulating duty very well. How do we solve this problem? Not by just hiring more regulators, costing taxpayer dollars and being a pain in the ass for businesses. We need to find a better way. A 2nd cousin of mine is a nuclear engineer. The power plant he works at used to have around 175 employees (this being a couple decades ago, he’s worked there for 30-40 years). Now, they have close to 1000, and don’t produce any more power than they used to. What are most of those employees? Regulators. We’ve got to find a better system for regulation.

  4. agnophilo says:

    @Cookstergirl88 – ?@daavidd – To a degree I agree with you, but saying we should do away with all regulations is like saying if we get rid of the police and the FBI murder, robbery, terrorism etc will just solve themselves.  We just don’t live in that kind of world.  And what we need isn’t new regulations mostly, it’s old ones – the ones that were put in place after the great depression which were removed and then boom it happened all over again.  Don’t beurocratize something to death, but it’s healthy to prohibit things that risk destroying the economy or cost people their pensions or are dishonest or incentivise bad behavior.  If there’s a hundred million dollars to be made screwing people over, someone will always step up and do it.  Murder isn’t against the law because of nice people, it’s against the law because not everyone is nice.@whyzat – Would never get out of committee.  @TheBlueNinjaTiger – What are you proposing?  And sure regulations shouldn’t be insanely complex but they should exist or corporations are lawless.  And I somehow doubt they have over five regulators for every one employee.  Either your friend is exaggerating or you are or they do other things.  I imagine the energy industry has changed in the last 40 years more than just changes in regulation.

  5. @agnophilo – I’m sure they aren’t all regulators per se, but many of them are. According to him, the plant still operates using the same technology it had when it was built. None of the systems are hooked up to modern day computers, let alone the internet. Pretty much everything is analog circuits, meters, dials, and whatnot. The day to day operations of the nuclear plant hasn’t really updated. Granted, the situation may be entirely different at a newer plant.I honestly don’t have a good answer to this problem. We need regulations, but we also need a government with lower costs. We need politicians who are willing to focus on making the regulatory system as efficient as it can be. Maybe hire a few people who’s job is the bureaucratic equivalent of an industrial engineer?

  6. agnophilo says:

    @TheBlueNinjaTiger – You didn’t mention it was a nuclear power plant, lol.  Who knows what all the people do there.  I think nuclear power technology has changed in the last 40 years – or are they still using apple 2GS computers and everything, lol.

  7. Congress regulates banks. Who regulates Congress?

  8. @agnophilo – They don’t use computers at all….

  9. agnophilo says:

    @hectoramemnon – We do.  We suck.@TheBlueNinjaTiger – Apparently (after googling it) nuclear power plants operate on a ton of dials and registers, but not computers.  Makes sense.  Still, I doubt nothing has changed.

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