Those Republicans hate regulation. That hatred seems a little awkward to explain now that financial markets are teetering on the brink of economic catastrophe.
Conservatives more than anyone pointed out that it is ridiculous to have the referees play the game when they railed against socialist government that nationalized companies and industries. That is fine and good. But it is nearly as foolish to play a game with no referees.
McCain recently said that greed on Wall Street is the problem at the heart of the current financial market woes. That is just foolish. Greed is always there. We all want higher returns. People don’t cheat because they want to win – everyone wants to win but not everyone cheats. The problem on Wall Street is one of oversight and regulation. It should be simple: we don’t let the referees play and we don’t leave refereeing to the players. Anyone fan can tell you that competition is enhanced by good rules and fair officials. Enhanced, that is, unless you like it when your golf tournaments look like ultimate fighting matches.