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Originally Posted by justplugit
You can do away with most of the freeloading by restricting participants to show proof every 2 weeks where they have looked for a job by listing the companies and telephone #s of where they looked as they go to pick up their checks at a govenmrnt office, not walk down to their mailboxes and collect a check. Then there should be proof of citizenship to vote.
Those would be big steps forward, but what politcian would go along with either of these?
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I'm not sure either would produce a significant benefit.
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Whatever the regulations, business must adhere to them or pay fines.
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But that's exactly Biden's point. The elite can use their incredible leverage to trump the public interest.
Take the recent JP Morgan 2 Billion dollar debacle. We have a global credit crisis and the response is regulation to help reign in risky behavior. The elite (in this case JP Morgan who's banking business is insured by taxpayers mind you) use their influence to delay the implementation of new rules so they can continue risky behavior without penalties.
Fortunately it's a big company that can absorb the loss, otherwise the taxpayer could have been held liable...Wait, didn't the taxpayer just loan the banks hundreds of billions of taxpayer money a few years ago because of banks taking massive risks allowed under law because they used their influence to shape regulation?
-spence