I generally am NOT a fan of business regulation. I believe that simple enforcement of laws against fraud and other crimes should be sufficient to keep businesses on the straight and narrow.
Diligent enforcement of the law, together with every business’ best interest – serve customers, employees, and owners faithfully, or go out of business – should be all that is needed.
However, in many industries, large businesses have captured the regulators and have made a mockery of diligent law enforcement.
With that in mind, and mindful of the daily increase in the risk of a financial meltdown in the US, which would steal the savings of most Americans, I would like to propose a new regulation. (I apologize in advance for breaking one of my own cardinal rules.) But first, a little background.