It is one of the great curiosities of conservatism that its adherents enthusiastically destroy regulations which besides a conscience act as a bulwark against greed and corruption, thereby making greed and corruption inevitable. Because when (a) there's no wrong way to make a buck, and (b) no accountability or consequences for malfeasance, there's no disincentive either. (Other than being able to sleep at night, which isn't a problem if you don't have a conscience in the first place.)
And when the inevitable happens, the resulting disaster spreads (because it is never *really* contained), they bemoan the very same rampant greed and corruption their deregulation made inevitable. ~~ Terrance DC http://www.boomantribune.com/story/2008/9/19/174357/322 McCain's top economic advisor Phil Gramm orchestrated the Gramm-Leach-Bliley Act in 1999 which "destroyed the Depression-era barrier to the merger of stockbrokers, banks and insurance companies." He also pushed the Commodity Futures Modernization Act in 2000, which made legal "the mortgage swaps distancing the originator of the loan from the ultimate collector." The Nation writes that "those two acts effectively ended significant regulation of the financial community." http://www.thenation.com/doc/20080922/scheer "You are interviewing the greatest free trader you will ever interview, and the greatest deregulator you will ever interview." ~~ John McCain, May 29, 2007 - Wall Street Journal http://blogs.wsj.com/dnotebook/2007/05/29/mccains-high-tech-cabinet/
