I think Ron makes some valid arguments about regulation, don’t you?
The video skims the surface. There is a link to his text there.
http://youtu.be/jjGRHspNbJo
- “The more we look to the government to protect us from investment mistakes, the less competition there is for truly independent evaluations of investment risk.”
- “The SEC, like all government agencies, is not immune from political influence or conflicts of interest.”
- “It is precisely because government is so big and so thoroughly involved in every aspect of business that Enron felt the need to seek influence through campaign money. It is precisely because corporate welfare is so extensive that Enron cozied up to DC-based politicians of both parties. It’s a game every big corporation plays in our heavily regulated economy, because they must when the government, rather than the marketplace, distributes the spoils.”
- “I hope we will not allow criminal fraud in one company, which constitutionally is a matter for state law”