Get ready for the Raw Deal
Saturday, October 4, 2008 at 07:24AM "It will be our job to enact — and I think it will be comparable to what Franklin Roosevelt and the Congress did in the New Deal — a set of regulations for all of the financial industry," said House Financial Services Chairman Barney Frank, D-Mass.
Many people of this country and congress, in my opinion, have no idea what has been unleashed. Congress thinks they know -- they're licking their lips -- but it's most likely self-destruction. No one knows, really, but it won't be pretty.
Talk about freezing, we're getting ready to freeze entrepreneurship, imagination, innovation, ambition, risk, rationality, spontaneous order, freedom, flexibility, responsiveness and every thing that makes the free market the greatest co-operation known to man.
We are headed to the clunky and ignorant micro-management of bureaucrats, a maze of stifling regulations, profit destroying tinkering from central control that favors politics over economics, social engineering of the worst sort -- we are getting design over spontaneous order. Stop and think who the designers are -- the very ones who designed the problem, plus all the designers to come like them. It will drive good people from the private sphere and attract political types who have no idea how to creatively manage, but only how to control and corrupt.
They will force stability for a short while and then the entrophy will set in. I doubt we will see growth for a long time to come. Move over France and Russia, here we come. I hope I'm wrong, but I don't see any good coming out of this.
Mike Farmer
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