"The real solution is to forbid any bailouts in the future, and stop propping up failure. Then financial markets will treat risk appropriately."
- John Stossel
Am I the only one that's nervous about a slew of government regulations on Wall Street? Regulations mean more cost, less efficiency, and few benefits to the "little guys". And how on earth does our President think he's qualified to regulate this entire industry when he hasn't run ANY business in his entire life! Our government is wallowing in debt, so what makes them capable of taking this on?
Love this from Stossel: "But the more (and the more loudly) the government devotes efforts to protecting ordinary investors from Wall Street, the less incentive ordinary investors have to protect themselves. Pretend to remove the risk (or severely dilute the risk) of personally suffering financial losses, and ordinary, non-professional investors lose their incentives to personally exercise prudence, caution, and good judgment."
I absolutely despise a government that acts so "Big Brotherly". Don't they want the citizens of this country to be accountable and take care of themselves?! Let us manage our own risk by making prudent decisions. Like Stossel says, Obama's not bringing reform, it's "reform".
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