Federal regulations are at their best controversial, at their worst, they can stop or even reverse economic growth. Your friendly banker will tell you that any regulation, State or Federal, is bad for his business. So What! Under President George W. Bush, we ended almost every regulation that controlled the stock market. The result can only be described as cacaos. If you supported George W. Bush for the past 8 years, then you got exactly what you deserved.
This disaster has been called by some “The Great Recession” by others “The 2nd Great Depression”. Frankly I don’t care what you call it. No one, not even your “friendly banker” can deny that we are here today because your banker, and every trader in the market, was either too stupid to care or more likely, just didn’t give a damn about anything beyond his or her profits.
The facts are really quite simple, if you don’t regulate the stock market, the market will eventually fall apart. How much we regulate or how little we regulate, will determine our future or lack of any future. I have only one recommendation and that is for meaningful regulations, which will be enforced.
