He’s just going to get people killed. But that’s ok he doesn’t give a shit anyways, so it’s moot. What are a few thousand dead peasants when we could make big stock number go up?
He’s just going to get people killed. But that’s ok he doesn’t give a shit anyways, so it’s moot. What are a few thousand dead peasants when we could make big stock number go up?
From my point of view from the other side of the Atlantic, you guys in the US don’t have enough regulation as it is. There’s only one class of people that benefit from removal of the regulations you do have, and that’s the top 1%. It’s just going to allow them to do all of the following to make more money, at everyone else’s expense.
1: Treat their employees worse than they already do, AND put them into dangerous situations legally. 2: Cut corners to save money at the expense of safety. Think airlines, airliner manufacturers, car makers, construction. The list here could be endless. 3: Well, finance/banking regulations. That will be a field day for the finance sector I’m sure.
I mean the list is potentially endless. But the three points above will keep you busy for long enough I reckon.
No, I don’t really feel safe even this far away. We’re not immune to all of this anywhere in the world.
Your list has most of the highlights, but you’re missing 2 really important one: 1. food safety. I guess Americans don’t care what is being sprayed on their vegetables or what diseases their meat might have. And 2. environmental. Burning rivers, even more wildfires, smog in all your cities, toxic waste in your lakes, etc. Don’t think they won’t start polluting like crazy if they can.
All regulations means ALL regulations; even the ones most people would think are so common sense they don’t expect them to go away. They will. If it makes more money, they’ll get rid of any and all regulations.
Yeah I stopped at three when I realised I could be there all day when it comes to regulations that private companies need to adhere to. But I would agree those should have been on my abridged list too.
Ha, oh I get it. You are exactly right, the list is pretty much endless!
Number 3 is interesting for me… The finance sector is pretty aware of the need to control stupid risk taking, and the don’t want another GFC, so I guess they’d (broadly) want to keep some of the regulation around that. What else is there? General bad acting and things like excessive fees? That also seems to be a risk driver, in the long term, as it leads to e.g. increased loan defaults… Where do you think the key problems would be?
Edit: whoops, this was supposed to be in reply to @[email protected]
What makes you think big finance likes to keep regulation? Someone’s loss is another one’s profit. Some people become very very rich from financial crises.
Because market crashes are not good for anyone in the sector… Hence I think the regulations brought in via the FSB in response to the GFC were broadly accepted (though probably with varying degrees of willingness).