I Believe in Smart Regulation, not De-Regulation: I believe that "deregulation" will damage the taxpayers and middle income families. To illustrate the point, just look at what deregulation has done to the airline industry. More recently, look at what deregulation of the banks has done to our economy. In fact, look at how deregulation of the banks has affected you directly.
Banks borrow money from the Fed for .5% interest, and they use that money to loan to us with credit cards. Credit card rates are as high as 36%--a 35.5% profit to the banks on outstanding debt. The banks are not regulated by the usury laws, and even if you are current on card A, but are late on card B, Bank A can raise your rate for being late on the other, unrelated card. How much profit is enough!? How much more can we take?
I am against deregulation, and I am against over-regulation. I believe in smart regulation that protects the consumers, the tax payers, and the employees--not the unjustified, massive profits of corporations that fail to reinvest that money into the local and regional communities. I also believe that regulation needs to be limited, where it creates unjustified expense to businesses that cripple their ability to compete in the national and international markets.