The general public is protected from unscrupulous predators by government regulations. If you don’t want some crook taking advantage of your old grandmother you better hope there are government regulations helping protect her. But the Con’s* figured out that if they paid off their republican Congress people they could get the regulations that protect the unsuspecting, changed or eliminated to allow them, the con’s, to prey on those that are the most vulnerable.
So the con’s and their bought and paid for legislators, mostly republicans, get the regulations changed. This allows them to lend money to people that will never be able to pay it back. This was called “loan sharking” when the mob did it 40 years ago and was against the law. But the con’s made it legal if “legitimate” corporations did it. Of course, after the unsuspecting get robbed, the rest of us, not wanting to see them starving on the streets, help them out. The Con’s get rich, their legislators get rich, and we pay the price.
EDIT ADDITION: Deregulation is the monster here. And both Democrats and republicans have been busy deregulating since Reagan. Enron is the prime example of a corporation going wild after deregulation.
Rationalization is the Key to Happiness:
Some will rationalize that those that were swindled should have known better and should have read the fine print. Let me ask this, if a swindler sells your poor old grandmother siding for her house that she doesn’t need, do you tell her she should have read the fine print. First of all there might not even be fine print. Fine print would only exist if the regulations require it and remember who is in charge of the regulations. Second, I dare anyone to read the fine print that is not a lawyer. All of us rely on regulations to help us avoid getting swindled by the shysters.
*Con is defined as an unscrupulous conservatives that puts money ahead of principles. Since not all conservatives are this devious and greedy it is necessary to distinguish the Con’s from the legitimate conservatives. I am borrowing it from Thom Hartmann.
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