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What Does Deregulation Beget?
The fact that a conservative approach to Wall Street — down with regulations! down with oversight! — has led to America's financial mess appears to be sinking in. But don't forget that deregulation has screwed up much more than Wall Street. The conservative hands-off approach has neutered nearly every science-based agency in the federal government these last eight years. That's the point of Chris Mooney's "Return of the Geeks." Check it out. No surprise, Bush Administration hacks prioritized deregulation of industry over science and oversight, to disastrous results.
Conservatives love to slam "big government." But the lack of effective regulation and oversight has led to problems in a number of areas, many of which Mother Jones has covered. Check out "The Ungreening of America: How the Bush Administration Is Rolling Back 30 Years of Environmental Progress." Also, you can read about the pernicious effects of deregulation in the areas of airline safety, food safety, the telecom industry, the FDA and food imports, mining, and nuclear garbage and nuclear safety.
Maybe it's time for regulation to make a comeback.
While attending a World Trade Conference I felt like a black man at a kkk meeting. When I quoted Will Rodgers who said "Holding Companies
are like when you hand the goods to an accomplice while the cops search you."
I said if we keep tearing down regulation we will wind up back in the 30s.
few folks at my table spoke to me.
I wonder of Obama voted with Pelosi to repeal the 1935 holding company act last year. does anyone know?
"the pernicious effects of deregulation" - what a wonderfully accurate phrase. The one area not mentioned or just touched upon is the electric utility industry. The idea that you can break generation from distribution is completely nonsensical. Deregulation led to the las major blackout, and probably is what did in Gray Davis in CA.
Deregulation of the elite capitalists industries has caused the loss of thousands of jobs account outsourcing to other countries. There is so much the Republicans with the help of the DLC Republican Lites have done through legislation to destroy our country that it is hard to imagine it all at once. It will take Obama his two terms to even get close to straightening it all out, but Obama will get us on the way.