MiamiHeat
10-10-2010, 02:48 PM
Thinking about the housing scandal got me thinking :
Remember when America was plagued by snake oil salesmen? Going from town to town peddling fake "Cure alls" to every disease and ailment known to man?
Apparently, America thought it was a good idea to create the FDA in response to this and food quality control.
You see, we didn't blame the people who bought these things. After all, some people are uneducated, desperate, hoping for anything to save them from their misfortunes....
We blamed the snake oil salesmen. We regulated food quality, medicine, and false claims. It became illegal to scam people. Makes complete sense, correct?
So, why then do some people say,
"Nobody put a gun to their heads and forced them to buy adjustable rate mortgages. Nobody forced them to buy things." Nope. Nobody forced them, but they were sold something by enthusiastic salesmen who knew more about it than they were sharing.
Isn't that the exact defense that snake oil salesmen used over 100 years ago when defending themselves? When they took advantage of the sick and needy by claiming to be able to cure them with fake medicine?
So, using this logic, if certain segments of industry are to remain unregulated..... shouldn't we just apply this logic everywhere, and dissolve the FDA?
Why stop at the FDA? We should revoke all sorts of laws that pertain to frauds and scams.
Bernie Madoff? Ha. Nobody put a gun to their head and forced them to give me their money to invest.
Remember when America was plagued by snake oil salesmen? Going from town to town peddling fake "Cure alls" to every disease and ailment known to man?
Apparently, America thought it was a good idea to create the FDA in response to this and food quality control.
You see, we didn't blame the people who bought these things. After all, some people are uneducated, desperate, hoping for anything to save them from their misfortunes....
We blamed the snake oil salesmen. We regulated food quality, medicine, and false claims. It became illegal to scam people. Makes complete sense, correct?
So, why then do some people say,
"Nobody put a gun to their heads and forced them to buy adjustable rate mortgages. Nobody forced them to buy things." Nope. Nobody forced them, but they were sold something by enthusiastic salesmen who knew more about it than they were sharing.
Isn't that the exact defense that snake oil salesmen used over 100 years ago when defending themselves? When they took advantage of the sick and needy by claiming to be able to cure them with fake medicine?
So, using this logic, if certain segments of industry are to remain unregulated..... shouldn't we just apply this logic everywhere, and dissolve the FDA?
Why stop at the FDA? We should revoke all sorts of laws that pertain to frauds and scams.
Bernie Madoff? Ha. Nobody put a gun to their head and forced them to give me their money to invest.