Non-Regulated Capitalism

[Minor Axis]

Exhibit A (recently heard on the radio): The recent tomato 2008 scare in the U.S. when the current administration came in, they were lobbied by the Produce Industry to reject a regulation that required vegetables tracking system (tracking from their original source) because it was too much of a burden. Now when an out break occurs is it any wonder that the FDA has to scramble to figure out where the culprit originated?

The Slow Cook Link:
"Turns out we might have had a produce tracking system in place years ago but the corporate food interests succeeded--with some help from the Bush White House--in getting the idea shelved."

Record.net.com Link How much did it cost?: MILLIONS.

 

[ssl]

Capitalism requires regulation, otherwise, it is just monopoly.

 

[Minor Axis]

Exhibit B: The U.S. Mortgage Crisis. See this thread.

 

[Minor Axis]

In regard to Exhibit B, I'd like to clarify that there are degrees of regulation. I was not implying that there is no regulation at all, just not enough to keep the situation from deteriorating into what it is today. Overall the Bush Administration across the board has moved to reduce regulation and oversight, because you know why... regulations costs businesses money.

Exhibit C- China- Poison Toys and Pet Food
In an effort again to save money with the secondary effect of destroying U.S. based jobs, our toy corporations have sent thousands of jobs to China and with little if any oversight. CNN reports that in 2007, 45 million dollars in toys were recalled. 33 million dollars of those toys came from China. They also reported that new regulations were being worked on by Congress to correct the situation. And there was that poison pet food deal too.

Worldnetdaily link.

Exhibit D: The Iraq War no bid contracts & billions unaccounted for as facilitated by The Bush Administration and the Republican Party.