Suren B. Rao’s letter Friday (“Too much regulation”) complains bitterly about too much government regulation and red tape.
By implication, his argument favors letting the “free market” do what it wants. That’s what Alan Greenspan believed in, just before the banking and financial industries crushed the world economy by unregulated transactions.
Greenspan understands now he was wrong.
Does Rao understand that we have less regulation than any other modern nation? No requirements for airlines to clean their interiors, for paid vacations for employees, for paid maternity leave.
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We allow agribusiness to do what they want, put almost any ingredient in processed food, whether or not it is carcinogenic or mostly sugar. We allow them to torture animals.
Does he understand corporations largely control the federal government, which has produced an oligarchy instead of a democracy? Does he trust the auto industry, which opposed catalytic converters, seat belts and air bag recalls? Does he trust the coal companies that bring down mountains, pollute the water supply and move on?
We have the largest gap between rich and poor of any modern nation, and it is lack of regulation that has allowed 1 percent of the population to gain almost half of all wealth in this once-great country.
Votes for Glenn Thompson will help continue this corporate control and the rapid decline of our middle class.