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fleebut

Politics of oil spill

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First let me say, we all have the same wants and needs. Healthy environment, freedoms, safety, and good living standard to name a few. How we get there upon our political beliefs the big split.

 

We would all like to minimize oil spills and increase financial instability. When these problems explode upon us we attempt to understand why and put in place cures of prevention. Immediately because of our political beliefs we react either to blaming or excusing government and business. More directly either blaming the lack of regulation or proper regulation and enforcement. One side will offer the excuse not enough resources upon the regulation industry. We need to double down on such remedies and this would not have happened. Some how the government can bestow safety by acting tough (even if they are clueless) and threatening. So regulators will fine a company $1 million for missing a filing of report. The intention, (much like IRS) is that no way can a third party ever be effective in policing nor inspecting, so the next best thing is to intimate and scare. The trail lawyers very good at this, but need some gottcha laws to be REAL effective. Many such lawyers make it ever so easy to dig up dirt to attack your trouble making opponents.

 

My opinion on this relatively new political phenomenon of government intimidation upon business? It’s a cancer, but a productive cancer upon politics and a horrible development for countries wealth creation and a corrosive effect upon the business of invention to produce change. It fisticuffs the business and takes away the motivation of business to solve societal problems. In magnifies the need for deep pockets resources of corporations and greatly empowers the business of government. We all will not like the end results of this continuing malaise.

 

Maybe we should hold the regulation industry as accountable to exploding problems, maybe the people with the most power; politicians. Maybe unscrupulous businessmen should be tried as criminals. Just like a bank hold up. If you are in a position of maximum influence to affect the citizens, you have a very high standard of accountability.

 

My opinion of government regulation….very ineffective. It’s always a dollar short a day late. Especially within the notion that more and more complex regs the secret recipe to success.  Conversely,  regs should be simple and direct energy to most good use. It should improve the business climate, the open market competition. If the regs works to limit competition, they are bad right out of starting gate.

 

My guess the financial problem was disaster in the making. Politicians exploiting pseudo government agencies for popularity, putting mortgage businesses at risk in doing so. Freddie and Fanny mortgage companies executives seeking and gaining political good boy attention and treatment putting their business at risk. Regulations modified per banker desires, Investment firms tricking up packages of mortgages for potential higher rates of returns, but with to much risk. A tricked up derivatives insurance investments.

 

So, the regulators ineffective as politicians. Business marched ahead with clever inventions to maximize roi . Clever gimmicks to make bigger losers and bigger winners. So, my question…..why are their no flexibility upon regulators, to change and update? My best guess….its a political invention. Meaning they really don’t care. It’s a job. They actually like things to blow up as they gain more resources and employment. I do not think government regulation as it stands if very effective in heading off problems. It’s a hind sighted, political, union, run thing locked in a time zone.

 

What to do? From oil spills to financial meltdown we need to avoid disaster, right? Let me first suggest to you ….the industry itself is the only competent resource for knowing risk and cost effective solutions that improve operations and safety.  So, government need only demand from this economic sector to provide a plan to government to self control. Maybe a standing committee of elected peers. The most respected within the business to serve upon a commission to administer regulations, standardize product offerings, inspection producers, SOPs, reporting, etc. This economic sector must provide risk assessments and solutions reports a never ending task of improvement to the public and investors. Government requires of this economic sector an insurance deposit to be utilized if they fail. If they operate recklessly, the security deposit goes up as well as 3rd party audits per some accounting or insurance firm. They report to stockholders the incompetence of management.

 

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