The Problem With Regulators is That Their Bosses Are Not Regulated
June 23rd, 2009Many people blame capitalism for the normal ebbs and flows in the economy; recessions and expansions. Then these same people demand more regulation, and when that doesn’t work they ask for more regulation on top of the previous regulation to shore up any potential loopholes in the law.
The reason that free-market entrepreneurs are trying to get around regulations is not because necessarily they wish to cheat, it’s because the regulators have created such an abundance of nonsense and barriers that they cannot run their businesses. The regulators then decide it is their job to punish people for trying to get around their retake US regulations.
Their thinking is that entrepreneurs that find loopholes are somehow evil, and yet these so-called “evildoers” are the ones that provide everything you see everywhere we go in our civilization. In fact, if it were not for them, our society and civilization would not exist. These entrepreneurs are beholden to the free market and the customers who duly vote every day with their own dollars. They vote for goods and services that they desire want and need.
The problem with regulators is that they are not regulated themselves, nor are the ones that pull their strings. For instance the politicians and lawmakers, which make laws to protect their friends and businesses who donate money to their campaigns, or the lobbyists that fund their war chests for future political endeavors; no one is watching their bosses.
Worse, most regulators claim the rule of law, and hold meetings and committees on potential regulatory law changes and these meetings are filled with lawyers, but alas, lawyers are not regulated either, “self-policing” which is about the most insane thing one could imagine. And as if that is not bad enough, we look back on the myriad of regulations and wonder how on earth they got on the books or what their original purpose was. Suffice it to say that most of them are merely political payoffs.
Very rarely do we ever hear any lawmaker suggest that we take a red magic marker through the laws, rules, and regulations that are stifling free and impeding business, which in turn hurts jobs, tax base, and the government itself, along with all the pet projects of lawmakers that created all this chaos in the first place. It would seem to someone that is intelligent and prudent that the system is not working, and increasing regulations is not the answer; it’s the problem.
Posted in Regulatory Compliance Consulting |