Consider This
Take a break and consider this. No I'm not losing my religion (I'm a Jew, so my standing is in flux as far as God is concerned) but I've been thinking a lot about our ongoing financial crisis (which like all crisis will go on forever in some kind of makeup).
"Blame Fingers", on every tv, radio, and newspaper show point the finger to either the government, the greedy banks who didn't care what kind of money you made, as long as they could throw money out of the window to get you in a nice little house, Wall Street playboys who supposedly cut up all of these sophisticated loans, spread them all over Luxembourg and all get out, to people who did not read the papers, and trusted American moneybag men to make them rich with a wink and a smile.
My head is about to explode. I listen to radio much of the day, read the magazines and papers, and even I cannot wrap my winkie around all of this information.
Perhaps a modest suggestion, or perhaps better said an idea from me, who does not understand the markets as the heads on tv explain them, but, well you've known me long enough...if you sit down, hold my head, and explain something in easy to understand terms and in English, there's a good chance I might get it.
Let's go back to "consider this". What if all of the banks, stock brokers, mortgage bankers, and all of the other companies who shake you down and pump you up had NO EXPECTATION OF GOVERNMENT REGULATION OR BAILOUTS EVER AGAIN?
I'm saying this. Our minders, all of them would say that monopolies are bad, yet the world of government regulation and the people who populate these bodies is small enough to fit inside Ed Sullivan's crypt, with room enough left over for Mom Mabley's teeth, and Art Linkletter's stroke.
Strike all that. Think big outside the little baby box that government and liberal analysts give us to come up with neat new ways of this shit never happening again. I think I've heard that cool "never happen again" a few times in the last few winks. But it always happens again. When a government agency fails to do its "job" what do government agencies suggest? Give us more money and power so we can wreck things even better next time. They don't say that. They want more money because they truly believe that with more authority to pick our pockets (I'm down to lint) they can make sure that next time we're in the clear.
If a private company failed to undertake it's undertakings like the Feds do, do you suppose we would hear calls from Congress for more power for the private sector! Only the private sector can save us now!
Help! Help!
The government must scoot away from hammering away at this notion that only they can protect the people from the greedy (fill in the blank).
Now...get out of that box. The coporations and the banks and all of those fella's with our money must not have the only institution with a legal monopoly on the use of force to make sure they're being honest. It is now time to enter a new world. That is the world of private, free market regulation. That is where those that are regulated are not all gayed up with the G-Men, but are subject to the authority of a much better and more efficient authority; the private market of regulation.
Just like Consumer Reports takes no money from those that it reports on, but rather from the millions who buy and read its publications, and the millions who, in a free market of consumerism, decide what they can eat by relying on the Kosher authorities who regulate the food manufacturers, and thumb their nose at the government. Because the kosher regulators, the Consumer Reports and others just like them have built up a reservoir of trust and good will over the decades and centuries.
People trust them. Not the state. We need to free the system of regulation from the government, and hand it over to a panoply of private companies, who have every incentive that the statists do not.
To retain the trust of their customers.
And it would not be a bad idea to look up when you throw your money to a broker.
Joey Postove
"Blame Fingers", on every tv, radio, and newspaper show point the finger to either the government, the greedy banks who didn't care what kind of money you made, as long as they could throw money out of the window to get you in a nice little house, Wall Street playboys who supposedly cut up all of these sophisticated loans, spread them all over Luxembourg and all get out, to people who did not read the papers, and trusted American moneybag men to make them rich with a wink and a smile.
My head is about to explode. I listen to radio much of the day, read the magazines and papers, and even I cannot wrap my winkie around all of this information.
Perhaps a modest suggestion, or perhaps better said an idea from me, who does not understand the markets as the heads on tv explain them, but, well you've known me long enough...if you sit down, hold my head, and explain something in easy to understand terms and in English, there's a good chance I might get it.
Let's go back to "consider this". What if all of the banks, stock brokers, mortgage bankers, and all of the other companies who shake you down and pump you up had NO EXPECTATION OF GOVERNMENT REGULATION OR BAILOUTS EVER AGAIN?
I'm saying this. Our minders, all of them would say that monopolies are bad, yet the world of government regulation and the people who populate these bodies is small enough to fit inside Ed Sullivan's crypt, with room enough left over for Mom Mabley's teeth, and Art Linkletter's stroke.
Strike all that. Think big outside the little baby box that government and liberal analysts give us to come up with neat new ways of this shit never happening again. I think I've heard that cool "never happen again" a few times in the last few winks. But it always happens again. When a government agency fails to do its "job" what do government agencies suggest? Give us more money and power so we can wreck things even better next time. They don't say that. They want more money because they truly believe that with more authority to pick our pockets (I'm down to lint) they can make sure that next time we're in the clear.
If a private company failed to undertake it's undertakings like the Feds do, do you suppose we would hear calls from Congress for more power for the private sector! Only the private sector can save us now!
Help! Help!
The government must scoot away from hammering away at this notion that only they can protect the people from the greedy (fill in the blank).
Now...get out of that box. The coporations and the banks and all of those fella's with our money must not have the only institution with a legal monopoly on the use of force to make sure they're being honest. It is now time to enter a new world. That is the world of private, free market regulation. That is where those that are regulated are not all gayed up with the G-Men, but are subject to the authority of a much better and more efficient authority; the private market of regulation.
Just like Consumer Reports takes no money from those that it reports on, but rather from the millions who buy and read its publications, and the millions who, in a free market of consumerism, decide what they can eat by relying on the Kosher authorities who regulate the food manufacturers, and thumb their nose at the government. Because the kosher regulators, the Consumer Reports and others just like them have built up a reservoir of trust and good will over the decades and centuries.
People trust them. Not the state. We need to free the system of regulation from the government, and hand it over to a panoply of private companies, who have every incentive that the statists do not.
To retain the trust of their customers.
And it would not be a bad idea to look up when you throw your money to a broker.
Joey Postove
posted by Mr. Liberty at 1:37 PM
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