Tuesday, May 30, 2006
Finally Some Common Sense
Federal Finance Minister Jim Flaherty will be discussing a single national Stock Exchange Regulator for Canada with Provincial Premiers at the Western Canadian Premiers meeting over the next few days.
It's about time, we have too many crooks at the trough with our provincially regulated exchange commissions. Which is why Bernie Cornfeld and IOS could take advantage of our under-regulated market back in the 1960's for his Mutual Fund Swindles. And we all remember Bre-X., And the lack of a single national regulator is why Nelson Skalbania could get away with pulling a stock swindle that would have seen him in jail in the US.
Without regulation capitalism is a criminal enterprize.With regulation it is just a little less criminal it follows the rules, sometimes, just ask Lord Black or Ken Lay.
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Criminal Capitalism at Modblog
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