First Homeland Security, now this...

[DeepIron]

http://news.bbc.co.uk/2/hi/business/7322107.stm
http://www.reuters.com/article/ousiv...36557720080331
http://money.cnn.com/2008/03/31/news...ex.htm?cnn=yes

This kind of stuff bugs me:

The Fed would become "market stability regulator" - allowing it to examine the books of any financial institution deemed to potentially threaten the stability of the financial system. The overhaul will see a new organisation set up to take over the role of the five separate banking regulators. A body to regulate business conduct and consumer protection is also likely to be proposed.

The key to success in capitalism is competition, not more Federal regulation. Businesses "make it or break it" by being more competitive, more savvy and more in tune with consumers. If a business can't make it and they fold, then they should fail and be replaced by another business that can succeed. It's evolution in the marketplace and it's what makes the marketplace a stronger system.

Bailing out failed and failing businesses only prolongs the practices that put them in dire straits in the first place. Why fear bad business decisions, like the sub-prime lending fiasco, when Uncle Sam will be there to bail them out?

Besides, I'm for less government intervention and not more...

Now, if they want to take on Health Care, THAT'S a different story....