The topic of discussion on the Chris Stigall radio show was BP and the oil spill.
A caller who was frothing mad at BP, Jerry, blamed lax regulatory environment that led to BP self-regulating, resulting in the oil spill. Jerry thought this was a good for “stronger regulation” and kept repeating that BP had 97% of the safety violations.
Folks like Jerry baffle me.
According to Jerry lax regulation led to the spill. So, why isn’t Jerry mad at the government?
According to his own words, the government is directly responsible for this. He said that the government didn’t enforce regulation. He said that government had issued a large number of safety violations to BP, but didn’t do anything about them.
I don’t know if Jerry is correct, but if this is what Jerry thinks, shouldn’t he apportion some of his blame to the government for not doing their job effectively?
He holds BP accountable, which I have no problem with, but Jerry not only gives government a free pass for its perceived failure, but wants to give more power to government. That seems like bad logic to me.
But, this is the pattern that repeats over and over again. Government interferes to fix some problem. Some failure occurs which should have been fixed by the government interference. In reality, the government interference may have caused it, but few people understand that. They perceive it as another problem of the “market” that needs to be fixed, so they sanction even more government involvement.
It’s a spiral. Government intervention partially caused the mortgage meltdown and contributed to soaring medical costs. The fix? More government intervention in the form of new financial regulations and the Obama care.
And nobody seems to consider that these things may cause things to get worse – as previous government interventions have – not better.