Tuesday, January 18, 2005

Fighting Fire with Gasoline

Of course there are unscrupulous businessmen, as in every field there are those who strive to profit by immoral means, however, the expansion of government controls and the continued villianization of all businessmen as greedy profit-mongers is detrimental to the entire country. The real solution is the removal of government interference in the market, that is the only way to truly hold people accountable and reward the good.

The change in attitude goes beyond the boardroom. Judges are now inclined to take corporate misdeeds more seriously. And the general public, which makes up juries, believes that white-collar crime is a serious offense. "The bottom line is that it's more perilous to be criminal defendants in a white-collar case than ever before," says Mr. Behre.
"The only thing the government can do with a heavy enforcement budget is slow down the pace of fraud but never erase it," says Christopher Bebel, a former SEC counsel and federal prosecutor. "The government is never going to have the capacity to bring a halt to fraud because greed ... will motivate business people to cut corners in order to line their own pockets."

Especially when the government controls are taking all their profits away from them in the first place. Isn't the definition of insanity doing the same thing over and over and expecting different results? Why in the world would more controls relieve us of the problems which controls caused in the first place?

See also The Injustice of Insider Trading Laws


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