Some idiot on the news yesterday was talking about power plants, nuclear ones and said any problem that occurs in the US with them can be blamed on regulation, because what the hell does the government know about nuclear power plants. He went on to argue that the best regulation is self regulation by industry, because if there is a disaster only they will lose out in revenue and no company wants that, so that is there motivation.
This is the most laughable argument in the world.
There was no such thing as self regulation on Wall Street ever, which lead to the economic meltdown in 2008.
There was no such thing as self regulation on the Oil Rig in the Gulf.
In both instances industry took blatantly dangerous risk, knowing full well the worst case scenario would hurt many people even entire nations, no one cared.
Wall Street lost a lot of money but who cares because the individual CEO and his board made a killing, and the tax payer was forced to bail out the institutions.
With BP oil we see the same thing, billions in damages that they will fight paying for decades.
The Exxon Valdez never paid there lost lawsuit for there spill 20 years ago.
Microsoft lost an anti-trust lawsuit to the Clinton administration, and Bush came in and threw out the case, The case was already over. Microsoft lost. The only part left was to cut the check to the government. And Bush went all Brooklyn and sad fughetaboutit.
Corporations and CEO's and boards have zero obligation to the United States, if they could make a buck burning the country to the ground they would. As they have with my few examples.