Wednesday, July 19, 2006

Illustrating the Economic Royalism of the 109th Congress

ILLUSTRATED: A free market must be a fair market. The interests of big business are not necessarily best for a free market.

The Bankruptcy bill and the Class Action bill are really the only substantive things that this Congress has done. They are both policies designed to empower big business. Here's an example that's an easy way to explain it:

"Let's suppose there is a coal mine that is operating in violation of several safety laws. Lo and behold, there is an accident with deaths and dozens of injuries. The families in town have lost their breadwinner and can't pay their bills. Easy enough so far...

The class action reform bill, removing cases to federal court, is designed to make it harder for the families to hold the Coal Mining Company accountable. But the Bankruptcy bill makes it easier for the Credit Card Companies to hold the families accountable.

Not only does this offend the sense of Equity in the American people, it is not economically Efficent. This slashes part of the consumer base in the local economy (not big business' concern). Nationwide this impedes the initiative of would be entrepreuers (definitely in Big business' interest). But it harms the free market and the public interest."

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