I have a beef with regulation.
And it has nothing to do with thinking that there shouldn't be limits on what we can or can't do in America. Some limits that don't infringe upon our rights are needed to protect those rights.
My current beef is that some regulation is passed by a representative and some regulation is mandated by a bureaucrat. One of those shouldn't happen at all.
I also think that 99.9% of our regulation is garbage, but that is a whole ‘nother post.
I am of the strong belief that a government agency's responsibility is to enforce law not create it. We vote in lawmakers to do that.
When power is 'given' to an agency to create law, laws are being created without representation.
I may be treading on thin ice here, but it seems that regulatory agencies are sliding down greasy slopes. The more we create agencies to regulate and the more we give agencies to regulate, the more we are taking power from the people and the representatives that represent them.
With the new
banking and consumer protection bill, a new agency will be created with new powers to regulate and create regulation. These will in effect be new laws that financial institutions and merchants will have to adhere to. They will not have been created by your representative. (And they’ll be most menos eficaz.)
I don't know why, but the more I think about regulation the more I'm irritated with regulation.