Some industries just *need* to be regulated (more)
Barry Ritholz sez - Most of the World Wants More Bank Regulation:
That is what survey after survey around the globe shows that the world’s populations wants. Despite a relentless propaganda campaign of misinformation, fabricated data and false narratives, the public has not been fooled by the 1%. The best efforts of a well funded group of ideologues — Free Market absolutists, anti-Democracy and Randians — these pro-corporate radicals has not yet succeeded in fooling all of the world’s population all of the time.A particularly relevant point - Imagine the entertainment if Nuclear Power wasn't regulated at all Energy Exploration - the disaster in the Niger Delta, Banking - you need to ask?)
How do we know this? A 25 country survey last year by Edelman. They asked the question: “When it comes to government regulation of business, do you think that your government regulates business too much, not enough or about the right amount?”
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One major caveat: I would imagine the major events of the past few years probably has people thinking of disasters in specific industries: Banking, Energy Exploration and Nuclear Power. If the questions were asked about those specific industries, I believe the response for more regs would be much higher. And if the question was asked, “outside of banking, deep water oil drilling and nuclear plants” I assume we would get lower numbers.
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