All of the crimes, crashes, and meltdowns that have gone on in corporate America over the last fifteen years, and all of the scandals and fraud in the mortgage business, have led many people to start calling for more government regulation in the financial services industry.
History has shown that crisis always bring the Socialists out of the wood work, and the "government-control-solves-everything" crowd starts up their shrieks for financial bailouts and regulatory dictatorship like a swarm of noisy Cicadas crawling out of their larvae holes in the trees after they've molted.
Think for a minute. If your child did something wrong, are you going to rush right in to bail him or her out with more money? "Dad, I blew my paycheck on cell time and candy -- I'm broke. Can you give me gas money?" That's exactly the kind of thing we're doing.
Why then should American tax payers foot the bill for corporate greed and fraud? Why should taxpayers foot the bill for an even greater bureaucracy just to babysit them? When you pile on regulation, you burden the rest of the companies who do what's right.
One of the beauties of Laissez Faire is that the bad people drive themselves out of the game when their excesses catch up to them. Let the bankers go broke. They deserve it. When Wall Street rises again, it will be without the incompetent fools who drove it down.
(Psuedo)Christian Science Monitor Calls For Regulation. [link]