Reader comment on: Ron Paul on Regulators
Submitted by J.Johnson (United States), Dec 20, 2010 11:49
This remark sounds a lot like the Ayn Rand claptrap that Alan Greenspan believed so fervently, right up to the point where he admitted he'd been wrong for 40 years. The problem with today's regulators is that they've virtually all been captured by the very entities they're supposed to be regulating. Commenter Ben is correct when he says the alternative is endless litigation. Let me make the bold prediction that if such a thing happened, the courts would also be captured by the same entlties that control the regulators. I think Mr. Paul is absolutely correct to go after one regulator, the Federal Reserve, based on the havoc they've caused and continue to cause, but that doesn't mean that all regulators and regulations must also, and always, be eliminated.
Note: Comments are moderated by the editor and are subject to editing.
The Future of Capitalism replies:
There are plenty of opportunities for self-regulation that don't involve litigation. If you have a bad experience at a restaurant or hotel, for example, don't sue, just don't go there again. Or write a negative review on a Web site.
Other reader comments on this item
Comment on this item