And my believing in oversight does not mean one is a socialist. Without oversight and government regulations companies will become more concern with stock price and less about the public and more importantly the company’s long-term viability. All they worry about is the short-term stock price. In the classroom we are taught that companies will do the right thing because they should be worried about the company long-term goals and more importantly the long-term goals of the investors, however as we have seen in recent years that is not the case. With golden parachutes CEO are getting now days, why worry about playing by the rules if they are caught you get a few million as their good-bye kiss.
I’m all for the free-market, however that does not mean I’m against oversight, such as the Securities and Exchange commission or the EPA and I assure you I am not a socialist or communist. Without oversight you get things like Enron, BP, Madoff, AIG…