BLUF: Having allowed the government more power and responsibility than we should have, we should not be surprised to find that those more powerful than ourselves found out how to use the system to their benefit. The solution isn't more regulation - the solution is less. The less power government holds, they lower the incentive to manipulate the government in order to be successful. How does one gain success in a playing field undistorted by govt? Bring to the market products that others are willing to pay for - voluntarily.http://www.politicsdaily.com/2009/07/20/violent-crime-way-down-pick-pock
eting-way-up/
"Violent crime is down. Imagine that. The experts are scratching their heads. Statistics from major cities across the country show homicides dropping to 30- and 40-year lows.
Which gets us to an important point: The surveys only look at crime that's against the law. There's nothing about the conduct of those who used their economic and political power as weapons to make sure what they did was not illegal fraud, not illegal larceny.
Sure as can be, they used deception to improperly take billions from the unsuspecting. At the same time, they connived with their public servants to make sure their world of finance was largely a lawless frontier.
Even though the walls came tumbling down, they are still fighting in the rubble to make sure no one regulates their ability to keep their hands in our pockets. There's an interesting article in Monday's Washington Post that describes how regulators at the New York Federal Reserve were hand-in-glove with those they were supposed to oversee: "At N.Y. Fed, Blending In Is Part of the Job.''
Regulators too cozy with regulatees. Really? No kidding."
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