My little brother Tommy, is always going on about job killing regulations, as if regulation is something that liberals think up just to irritate honest, hardworking business men. I’m not here to defend specific regulations but most of it has a purpose and at least a reason. All of the banking regulation put in place after the Great Depression was there to prevent a repeat of the crash that caused the Great Depression. Those regulations worked great for about 45 years then we started to see those banking regulations repealed under Reagan, Bush 1, Clinton, and Bush 2. The result was the tech & housing bubbles, the later of which lead to the Great Recession of 2008.
Unless you’ve been under a rock, you’ve surely heard about the meningitis outbreak that’s killed twenty-five people so far. The source of this outbreak is the New England Compounding Co., which made the medicines that were the source of the contamination. Well, Romney’s lax regulation may have fueled meningitis outbreak. Maybe the executives at the New England Compounding Co. got larger bonuses because they didn’t have to comply with regulations but at what cost? Why should the financial interests of companies be more important than the health of the people?
Regulations have a purpose and this is a pretty great example. What’s best for businesses isn’t necessarily what’s best for We The People.