jkjsooner
9/17/2008, 03:38 PM
I know many here view regulation as a bad thing but I'm going to make a bold statement and let you comment on it however you must.
If we really have financial firms that are too big to fail and require a government bailout to save our economy if things go bad, then I say we have a right and public obligation to regulate the hell out of them.
I see several options here:
1. The government doesn't allow "too big to fail" companies to be created in the first place. Don't allow mergers that would create this situation. Force company break-ups if they grow on their own to this mythical "to big to fail" level. This seems to be the most intrusive form of regulation.
2. Have extra regulation to control reckless behavior on "too big to fail" companies.
3. Have companies that admit to being too big to fail make a choice. If they ever want a government bailout (not that it is guaranteed mind you) they must voluntarily agree to a higher level of regulation than most companies. If they don't agree to this then the government is legally not allowed to bail the company out.
4. Just don't bail out anyone. I prefer this choice but I don't want to experience Great Depression #2 either.
Just random thoughts..... I'm not expert here so feel free to pick these apart....
I'm just tired of us selling out our grandchildren for our politician's short term benefit.... Sure, they will probably try to do the same to their children but by that point the game will be over...
If we really have financial firms that are too big to fail and require a government bailout to save our economy if things go bad, then I say we have a right and public obligation to regulate the hell out of them.
I see several options here:
1. The government doesn't allow "too big to fail" companies to be created in the first place. Don't allow mergers that would create this situation. Force company break-ups if they grow on their own to this mythical "to big to fail" level. This seems to be the most intrusive form of regulation.
2. Have extra regulation to control reckless behavior on "too big to fail" companies.
3. Have companies that admit to being too big to fail make a choice. If they ever want a government bailout (not that it is guaranteed mind you) they must voluntarily agree to a higher level of regulation than most companies. If they don't agree to this then the government is legally not allowed to bail the company out.
4. Just don't bail out anyone. I prefer this choice but I don't want to experience Great Depression #2 either.
Just random thoughts..... I'm not expert here so feel free to pick these apart....
I'm just tired of us selling out our grandchildren for our politician's short term benefit.... Sure, they will probably try to do the same to their children but by that point the game will be over...