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Forum Post: Government should self-regulate

Posted 12 years ago on Dec. 4, 2011, 5 p.m. EST by mcrib (0) from San Francisco, CA
This content is user submitted and not an official statement

Government needs to be self-aware. The fact is that government employees can profit off of their relationships with large, established corporations in many ways. We know that they're not subject to insider trading laws. And their ability to raise unlimited funds from corporations as incumbents gives them an unfair advantage in elections, perpetuating the 'establishment'. As regulators, they often favor those corporations with pockets deep enough to afford lobbyists. What good are impartial regulators?

This is a huge problem. If there is anything we should have learned over the past several decades, is that both our government and corporations cannot be trusted. The marriage of the two is, in fact, quite anti-capitalistic (e.g. "too big to fail" financial institutions).

We need to regulate corporations properly as well as our government. We should reinstate Glass-Steagall and make the following illegal for politicians and bureaucrats: accepting corporate donations, trading stocks based on privileged information, moving into or coming from the industries they regulate.



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