BizJournals Portfolio
Aug 21 2007 12:00am EDT

What Utah Mines and Subprime Have in Common

Regulation has been a dirty word in American politics for decades. Jimmy Carter deregulated the oil and airline industries because he thought it was good policy and he wanted to escape the onus of being a liberal regulator. Reagan and the Bushes railed against regulation. When it came to Bill Clinton and affirmative action, he promised to mend it not end it. No one in the American polity on left or right openly calls for a new era of regulation. But all of the stories in recent weeks that have dominated headlines--from tainted Chinese products to the Utah mine collapse and, closest to home for Portfolio readers, the subprime mess call out for a need for new and better regulations. Of course, there are stupid regulations on the books. But just as we make distinctions between weapons systems that work and those that don't we should be just as discerning with regulation instead of attacking them wholesale. In some areas of life, we need more regulation--much more. And in some, less. A candidate who spoke like that might find a willing audience. I know he or she would be on their way to being a good president.


Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.


Connect With Portfolio.com

Come on, like us—you know you want to.

Follow us and if you're an innovative entrepreneur, we'll return the favor.

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

Slideshows

500 Startups Hits New York

Dave McClure's brainchild makes its way to New York and introduces East Coast money folks to some intriguing new companies. View Slideshow