Everyone is screaming for regulation of the financial industry. I might support regulation if I thought it would be enforced. I might support it if it would not drive up the cost of doing business. I might support it if it would not increase the size of an already bloated government. There's always going to be people that will find ways around regulations. Regulations cost would be passed on to consumers. Regulation would inevitably lead to higher taxes to pay for enforcement costs. What we need is a thorough investigation in to how the current financial crisis was covered up for so long. We need to know who was getting paid what by who to push these bad loans. I'm sure there must have been some illegal activity going on such as fraud and bribery of public officials via campaign donations. We don't need regulations. We need criminal prosecutions!
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