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[I'm providing today's quote in two forms: a soundbite/bumper sticker extract, and a version with a smidgen more context.]
"[R]egulation means that cheaters don't prosper. So, instead of being bad for capitalism, it's what saves capitalism. 'Honest purveyors prosper' is what we want. And you need regulation and law enforcement to be able to do this." -- William K. Black, on the PBS television program Bill Moyers Journal, 2009-04-03
Longer version:
| Bill Moyers: | This wound that you say has been inflicted on American life. The loss of worker's income. And security and pensions and future happened, because of the misconduct of a relatively few, very well-heeled people, in very well-decorated corporate suites, right? |
| William K. Black: | Right. |
| Bill Moyers: | It was relatively a handful of people. |
| William K. Black: | And their ideologies, which swept away regulation. So, in the example, regulation means that cheaters don't prosper. So, instead of being bad for capitalism, it's what saves capitalism. "Honest purveyors prosper" is what we want. And you need regulation and law enforcement to be able to do this. The tragedy of this crisis is it didn't need to happen at all. |
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