This letter-writer argues that Congressional oversight does not generate accountability.
Unaccountable Overseers
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Kinda like saying black is a dark color.
Actually, black is an absense of color — sort of like darkness is a lack of light. To most educated people, darkness is the natural state of things — occasionally interrupted by color and light. In some economic circles there are people who are hell bent on observing black and darkness — the natural state of things — while proposing that color and light could be taxed to improve the situation.If there’s going to be a tax — tax the black and darkness — at least that might produce color and light.
Yep, kinda like saying black is a dark color, eh?
Yep, kinda like saying black is a dark color, eh?
Actually, black is an absense of color — sort of like darkness is a lack of light. To most educated people, darkness is the natural state of things — occasionally interrupted by color and light. In some economic circles there are people who are hell bent on observing black and darkness — the natural state of things — while proposing that color and light could be taxed to improve the situation.If there’s going to be a tax — tax the black and darkness — at least that might produce color and light.
Boudreaux’s argument, if changed, makes a good argument why the Fed shouldn’t be audited. Congress getting involved further in Monetary Policy would be a disaster.
Boudreaux’s argument, if changed, makes a good argument why the Fed shouldn’t be audited. Congress getting involved further in Monetary Policy would be a disaster.
The approach we seem to see with everything these days is a notion that the “buck stops” somewhere else. Have money in a mutual fund? Well, it really isn’t your responsibility to make sure it is run properly, that falls on the regulator.
I realize the gains that are made from the division of labor are tremendous, but I wonder if that principle can be taken too far.
The approach we seem to see with everything these days is a notion that the “buck stops” somewhere else. Have money in a mutual fund? Well, it really isn’t your responsibility to make sure it is run properly, that falls on the regulator.
I realize the gains that are made from the division of labor are tremendous, but I wonder if that principle can be taken too far.
Oh, and speaking of Congress as overseers: http://www.msnbc.msn.com/id/33546194/ns/politics-washington_post/
Oh, and speaking of Congress as overseers: http://www.msnbc.msn.com/id/33546194/ns/politics-washington_post/
that Congressional oversight does not generate accountability.
We could argue that congressional oversight creates opportunities for more corruption.