Let's get to the crux of the issue folks. This article in the NY Times about the Merrill Lynch/Bank of America love story ought to be the fucking poster child case for why vigorous regulation -- AND NOT ENDLESS, UNACCOUNTABLE BAIL OUTS -- is needed of this country's financial industry. And if anyone wishes to dispute that assertion how about we shove these words up your ignorant ass:
Bear Stearns
Lehmann Brothers
AIG
Bernie Madoff
Sir Allen Stanford
And if that igno-enema isn't enough to open your droopy eylids enough to realize that in some instances government regulation is a good thing, then suck on these stories:
GM near bankruptcy
Unemployment at 8.1%
Citigroup stock less than a dollar
You constantly hear conservatives bitching and moaning about government regulation of major U.S. industries. Their unproven argument is that industries left to run their businesses without pesky government interference or oversight will foster more marketplace competition and therefore Joe and Jane Sixpack consumer will benefit by being provided with better products and services at lower prices.
B~U~L~L -- F~U~C~K~I~N~G -- S~H~I~T !!
I dare my conservative pals to show me a single godammn industry that has been de-regulated in the past 30 years that is now in better shape than ever and has benefited American consumers. Just one. Here -- I'll even provide you a few examples -- Airline industry? Energy industry? Telecommunications industry? Financial Industry? [sound of crickets chirping]
Yeah -- that's what I thought.
There's a very uncomplicated moral to this story. Greed is a primitive human trait. And the very concept of allowing people who are in the business of amassing wealth to oversee their own industries is so fucking asinine on a very elementary level it bewilders me beyond belief - and I have no patience for people, friend or foe, who have no grasp of the wrongness of that.
----k
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