Why we need more government
And America’s misnamed “elites,” especially the left, seem to be into all these things. Why? In order to transfer money and power to those the government chooses to reward. After all, who could know more than the elites?
Government officials, he [Barofsky] says, eagerly served Wall Street interests at the public’s expense…
Barofsky was the special investigator for TARP, the $700 billion Troubled Asset Relief Program (or as it’s more commonly described, “the troubled TARP program”).
“The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true,” Mr. Barofsky said in an interview last week. “It really happened. These suspicions are valid.”
The solution to the problem, any problem, has become more government intervention. Psychotic college student goes on murderous rampage? Gun control and more homeland security. Healthcare cost too high? Legislate—and simply declare—that it’ll be cheaper. Too many fat people as determined by government bureaucrats? Deem Big Gulps to be illegal. And regarding other legislation?
Mr. Barofsky’s assessment of his former regulatory brethren is crucial for taxpayers to understand, because Congress’s financial reform act — the Dodd-Frank legislation — left so much of the heavy lifting to the weak-kneed.
“So much of what’s wrong with Dodd-Frank is it trusts the regulators to be completely immune to the corrupting influences of the banks,” he said in the interview. “That’s so unrealistic. Congress has to take a meat cleaver to these banks and not trust regulators to do the job with a scalpel.”
Of course, that assessment assumes Congress can be trusted with a meat cleaver; Dodd-Frank was written when Dems controlled everything. While the 2010 elections improved the House, the Senate still can’t be trusted with anything sharper than a marble.
I don’t know when the cumulative detrimental effects caused by our government began, but we’re well into the decline and our suffering is great.