Dereg­u­la­tion bad idea

Northwest Arkansas Democrat-Gazette - - VOICES -

Dereg­u­la­tion is the res­ur­rec­tion of a mantra that hurt peo­ple and tax­pay­ers in the past. Reg­u­la­tions are put in place to solve prob­lems and pro­tect peo­ple. Our politi­cians and my­opic vot­ers are mov­ing at warp speed to elim­i­nate reg­u­la­tions un­der the head­ing of im­prov­ing prof­its and the econ­omy.

I am a tax­payer old enough to re­mem­ber that the dereg­u­la­tion by Ron­ald Rea­gan re­quired tax­pay­ers to pay over $500 bil­lion to bail out the sav­ings-and-loan in­dus­try, and such bailouts were again needed in 2008 af­ter dereg­u­la­tion.

Greed has to be reg­u­lated to pro­tect in­no­cent peo­ple. Per­sons that are most mo­ti­vated by greed do not have the con­science or self-dis­ci­pline to do what is right, eth­i­cal and le­gal. I be­lieve dereg­u­la­tion will re­peat the prob­lems of the past and again re­quire tax­pay­ers’ bailouts.

JERRY WAYNE DAVIS

Hot Springs

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