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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Tuesday, February 1, 2011

Law Process Abuse

Below is an example of how big business through lobbying can get what seems on the surface, something that should not be allowed, to get exceptions.
Imagine the type of loopholes financial companies have. Those loopholes aren't as easily discoverable as 32 million gallons of diesel injected into the ground.

In any event, this may have somewhat to do with investing, at least in the companies involved. My main reason to post is to simply state the following.
1) All entities (people, companies, cities, states, countries, etc) will always try to do what benefits them.
2) The LAW is the ultimate loophole, as companies who implement fraudulent or reckless actions, are basically shielded from lawsuit.
3) Since lawmakers are in for only 2 to 8 years, payback of being voted out of office is not sufficient punishment. The public loses and the companies and politicians get all the financial benefit.

I am an optimist, there is a fix, there always is. The public needs to learn to read large, cryptic laws meant to hide wording and uncover the effects. I don't see this happening. Therefore the law process needs overhaul, with strict structure and concise wording required on laws. We need to take lead from Wikipedia, or other open documentation sites to gain public scrutiny with wording.

The darkness must be lifted, so in the light of the public eye, such hidden changes to the law won't stand. Until we demand process change, expect much more of the same.

Below article is snippets from NY Times, click to read full article.


Simple answer, don't act surprised that any entity, left unchecked, will maximize their interests at expense of others. This country needs less victims and more participants in the process.

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