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Old 10-26-2011, 06:37 PM   #102 (permalink)
Outlander
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While true, the other side of the coin is that very often these regulatory agencies have dual roles. One is to serve the economic interests of the industry they regulate and the other is to maintain high safety standards. In most cases when economic interest and safety concerns conflict, there is a tendency to err on the side of economic interests. If all you do is watch the last 5 minutes of the last crash video, it clearly demonstrates this cavalier attitude on the part of industry toward safety and human life.


50:15
Quote:
" If a plane blows up once every ten years, once every 5 years, if we loose 200 300 people?..... cost of doing business"
It`s this attitude and its pervasiveness on the part of the rich and the powerful that the OWS crowd is railing against; just as the rioters in the U.K. have been doing.

As David and I have discussed, I will grant you that many of your points are valid with regard to industry collusion with regulatory agencies but this is a symptom of capitalism, not over regulation. There is not undo economic pressure to over regulate but there is massive economic pressures to under regulate at the cost of human life. Yes, over regulation in some areas exists and we do need methods to correct those instances as we have discussed, but cutting regulations even more is just like pulling back on the stick in a stall; it makes the original problem worse.

this idea of deregulation to me is like saying that if the crime of theft becomes a problem too big for your local police to handle, the "solution" is to make theft legal and therefore not a crime, rather than add more cops...