Yet the taskforce that looked at the causes of the crisis noted that one of the primary reasons it occurred was due to a lack of enforcement of existing rules and regulations. A trend that has gone on for some 30-odd years and continues to this day. It’s the same warped logic that figures the solution to the problems caused by too much debt is to borrow more. When confronted with a crisis largely caused by a lack of enforcement of existing rules and regulations the official response was to make even more rules while pursuing less enforcement. Sometimes I think I live in an alternate universe. It was always my understanding that the primary purpose of laws and punishment was to deter crime and promote civil order. Failure to enforce rules and regulations only encourages the scofflaws who have and continue to lie, cheat and steal their way to profits literally at our expense both directly and indirectly through bailouts paid for with our Tax Dollars.
This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.
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