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Strong regulations and proper enforcement can prevent disasters from happening. The cost of regulatory compliance should be born by the companies engaging in these activities and not by the public.
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Until the culture within the banking sector is systematically overhauled by regulators whose policies reflect the moral code of our society as a whole, we will never put our banking sector in order.
It does not qualify as leadership when an organization is satisfied at being among the best (or is the best) at meeting the minimum standards. Relying on the failure or malfeasance of others in your space is not a valid business model.
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It's useful to be reminded that not every small business owner takes seriously the preposterous caricature of this President as the enemy of private enterprise in America.
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We need to look no further than last week's employment report for June to see the concerning trend of less business confidence, less hiring and more "missing workers."
What has emerged from the Barclay's Bank inquiry is evidence that banks may have, in fact, been deliberately manipulating Libor rates for years.
Data is the tongue of the federal government and too often data and information from one agency's program is incompatible with data collected by another.
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However, the biggest drag on new job creation will be the Affordable Care Act upheld last week by the Supreme Court. It creates massive uncertainty that will have businesses putting the brakes on expansion and hiring because the costs are unknown.