Corporate Fraud; We Need More Regulation to Make More Criminals!

Not long ago a Harvard Law professor who admitted on the Sean Hanity Show said that he was indeed a liberal and that point was out of the way in the first question. The Harvard Law Professor stated that Corporate Fraud was out of control and that we needed more regulation in the United States to prevent it.

I found this ironic as much of the Corporate Fraud comes from Harvard Graduates and they are able to get away with it because of the Harvard Lawyers they hire, which often have worked in government themselves or volunteered for committees in the regulatory bodies; incestuous revolving door.

Of course now there are so many regulations on business that we prevent new innovations from coming to market and make it more enticing for corporations to off-shore or out source over seas. This is not helping America. Additionally, each time we make a new rule or regulation we also create more corporate criminals.

The faculty member in discussion is indeed incorrect in his comments and we must be so careful not to intervene unless totally necessary, we must resist. As Alan Greenspan recently told the US Senate when discussing rule making and regulations on independent brokers in relation to the SEC;

“The problem when making rules is that once you make one, it has a life of its own and the temptation to make another to shore up the first is too great and on and on it goes”

I would propose a “red magic marker” committee to go through the health care industry regs. Then an increase in oversight on personal injury and malpractice lawyers. Thinking out loud here.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.