Comment: My mistake, I read your comment too quickly

(See in situ)

In post: Common Law
In reply to comment: Quicky (see in situ)

My mistake, I read your comment too quickly

You're a breath of fresh air. I've been saying for years that a truly "free" market would be anarchy, and when Wall Street hacks on CNBC reference the free market, I believe they mean anarchy. For example, some argue that markets are ammoral, i.e., free from any judgement whether moral or immoral. But all nations have laws against theft, fraud, murder, etc., and these laws are based on moral judgements. And markets are manmade conventions so the argument that markets are ammoral is just a clever attempt to place financial elites above the law.

PBS Frontline did a documentary called "The Warning". It chronicles the story of Brooksley Born, director of the Commodity Futures Trading Commission (CFTC) during Clinton's second term. She warned Clinton that the dark derivatives market would cause a financial crisis, but Clinton's economic advisors "shut her up and shut her down". Leading the effort to shut her up was Fed Chairman Alan Greenspan. The documentary exposes bipartisan leaders who are ideologically opposed to regulating financial fraud. And we see the disasterous consequences of this anarchical world view today. I highly recommed watching the video.

In a Constitutional Republic based on moral principles, self regulation means voluntarily following a moral code without heavy handed gov't regulations. The greatest amount economic freedom within the moral framework of a Constitutional Republic, is provided by a competitive, capitalist market economy based on the rule of law. You might like my post titled "Morals, Ethics and the role of gov't in a capitalist economy". (Rand Paul: One person can make a difference) (Fast and Furious hearing)