Hucksters Not Wasting the Crisis
Funny, I hadn’t heard insufficient involvement of “disadvantaged groups” included among the contributing factors to our the economic crisis that supposedly necessitates a stronger government hand in the finance industry. And yet:
Chris Dodd, Barney Frank, and Barack Obama insist that the new financial regulation bill pending a vote in the Senate is a necessity to restore stability to troubled markets. Instead, it looks as though Democrats have been more concerned about quota systems than economic growth. Buried deep within the bill is a requirement for all regulatory agencies with jurisdiction in economic arenas to start beancounting based on ethnicity and gender.
It’s almost as if regulation is not a means to correct problems, but an end in itself, expanding government authority to dictate the terms of our social existence.