The West Virginia Mining Disaster and the Financial Crisis Have the Same Root Cause

[kristopher]

We are assured by nuclear industry enthusiasts that in spite of the "streamlining" of the nuclear regulatory regime, this isn't a problem in that sector.

Why should we believe them?

The West Virginia Mining Disaster and the Financial Crisis Have the Same Root Cause

Officials say it's too soon to pinpoint the exact cause of the tragic explosion at the Upper Big Branch mine in West Virginia that took the lives of 29 miners, but we certainly know enough to identify the root cause. Let's connect the dots. It's the same cause that led to the implosion of our financial system: a badly broken regulatory system. These calamities occurred because elected officials who should have been creating a regulatory system that protects working families instead created a system that protects the corporations it was meant to watch over.

...snip...

...The problem isn't a shortage of regulators. It's the way we've allowed the regulated to game the system.

READ MORE at the Huffingtonpost http://www.huffingtonpost.com/arianna-huffington/the-west-virginia-mining_b_534665.html

[Petrushka]

1. Thanks for the link! --- K & R

:kick:

[kristopher]

2. You're welcome.

[Nihil]

3. That's true ... and not just to those three industries either ...

> The problem isn't a shortage of regulators. It's the way we've allowed
> the regulated to game the system.

The problem isn't even as complex as that: it is simply down to greed.

Nothing else.

Nothing inherent to the industries that you specified (or to the many
others that are in exactly the same position).

Greed drives corruption for sure (in regulators, financiers, politicians,
health service providers, insurance companies, war profiteers, shills and
hypocrites for every "special interest group" everywhere) but the problem
isn't the corruption per se, it is the underlying greed and the constantly
trumpeted (whether overtly or unconsciously) anthem that "Greed is Good!".

Just simple human greed.

Now fixing that is a task and a half ...
:shrug: