reply to post by Americanist
Your estimated percentage is off with 40% of our economy being the financial sector.
You, clearly, didn't understand the point of what I said.
This industry is designed to siphon off the Country. Our government does the general population a service by regulating/ criminalizing fraud
leading to insolvency. Pure and simple.
Actually, it's not all that simple for people of average intelligence, as you've just demonstrated.
First, the current system relies upon Fiat currency - which has, ultimately, no value. This allows the Federal government to grow and shrink the
amount of currency in circulation at will. There is a very blatant practice in the Federal government to back stocks in various enterprises to
promote some program or another. For example - when the goal was to grant housing to as many people as possible in America; Fannie Mae and Freddie
Mac were continually sponsored and their stock values essentially as good as a government bond (except they existed outside the typical accounting and
budget system - allowing a program to be funded without really being funded... through a bonds system that would eventually have to return a payment
but not stand out as an obvious figure on a balance sheet).
It's not the first time it was done - and similar examples do exist across the various industries that are out there.
Now, you understand, to some degree, that part of it.
Here is where you get a little lost. You believe that these enterprises - basically funded and enabled to be so large by government policy (their
stock would be virtually worthless were it not for government backing of the invested value - which is what made them favored for secure investments
by retirement funds and others looking for 'secure' investments) - can be effectively regulated by governments comprised of individuals who are
elected via a very expensive process of advertising and political cloak&dagger (another issue that needs to be addressed - but should be done in a
different thread).
This, simply, is impossible. These corporations will pay, and/or find methods of paying, massive sums of money to political entities (or, perhaps,
taking actions outside of donations, endorsements, etc and 'prop' a candidate/incumbent with business choices local to his/her sphere of influence
to keep people content with jobs or otherwise) in order to keep their privileged status as government backed/funded. They will pay for lobbyists to
insert legislation that, effectively, legalizes and mandates a monopoly or cartel.
There is no way to avoid this, other than to remove the power of government (in this case - the National Government) to control and regulate
businesses and stocks.
Lay down what Fraud is and is not, and let judges decide based on the case. There will be enough lawyers out of a job trying to create nifty
legislation we -absolutely-have-to-have- if we wish to survive to see next spring that finding a lawyer willing to counsel and pursue fraud claims
will be fairly easy. Get rid of the penal system and euthanize people who fail to rehabilitate through a system structured to accomplish that goal;
and the courts will have plenty of time to hear it (as well as stop doing things like throwing people in jail for writing bad checks and getting drunk
in public - slap them with community service, or something).
If you want an example of a minimally regulated environment - look at the Internet and the status of computer information technology. There are few
government regulations - and few ways to enforce regulations of any kind (look at how successful publishing companies have been with DRM and other
such strategies).
I'll, then, point you to a number of computer information systems used by the government - compliant with all of their nice little regulations and
protocols that keep you safe. I have to shave again between entering my log-in information and actually getting to my desktop on any government
computer. The exchange server we have for outlook is never mapped correctly, or works, for that matter (most of us give up and go through web-mail).
And the sites you need to get to "by today, or else..." are always down for some maintenance or another.
In short - they suck. It's what government regulation does to things: make it incoherent and full of suckitude. Government systems are always -way-
behind the curve (ten years or more, easily) and so non-reactive as to be next to useless.
A perfect example: NavFit98 ... a piece of garbage program we -have- to use for writing evaluations. Why? I don't think any currently living
critter knows. Acrobat Reader/Writer, Microsoft Word, Word Perfect, and Open Office all have vastly superior capabilities (to include what NavFit98
does) and are much more intuitive. And don't even get me started on NALCOMIS/UMA....