well, we need to have a serious conversation in this country about what is an acceptable level of regulation.
for years, the regulators that have been in place have been way too friendly to business-- in this industry, and also in the news, the financial industry. for years, the pendulum has swung against regulation. all along, I maintained it was a mistake. people called me a dinosaur liberal etc. I stuck to my guns.
you need people who are tough. But you also need to keep tabs on these firms too. the regulators need more resources too, I think that much is clear.
and there needs to be real consequences. something to make a firm think twice about using a casing that a chief engineer for BP advised against.
but the reality is, what can the government do to prevent a firm from making a reckless decision? stop the drill? show up with the atf and shut down the securities trading division?
with companies being seemingly unable to police themselves, we need to rethink the concept of a LLC, or accept more government adult supervision.
pisses me off.