Cry Wolf Quotes
Recently, Washington has been great at issuing overly complex and ineffective regulations—breeding uncertainty among America’s job creators and stifl ing their ability to grow the economy. To add insult to injury, Congress and the administration are considering myriad new regulations to pile on top of business owners, threatening to make it even harder to keep their doors open.
The real worry is that these new rules and regulations do not create a risk factor or a timidity that is so severe that... they sit on the sidelines worrying more about rules and regulations than they do about making money .. If we have to go to a book keeping system as opposed to an accounting system then we're going to strangle the American enterprise system.
The present law removes all responsibility from the purchaser and fosters litigation. It invites nuisance suits and spurious claims.
You are right to be indignant. The fact is the system is not working right. It is not right when we have so many people without jobs... It is not right that we are throwing people out of their houses when we have so many homeless... [Our financial markets are] supposed to allocate capital, manage risks. But they misallocated capital, and they created risk. We are bearing the cost of their misdeeds. There's a system where we've socialized losses and privatized gains. That's not capitalism; that's not a market economy. That's a distorted economy, and if we continue with that... we won't succeed in creating a just economy.
Related Laws and Rules
Backgrounders & Briefs
As the nation approaches the first anniversary of the Dodd-Frank financial reform law, opponents are claiming that the new measure is extraordinarily damaging, especially to Main Street. But industry’s alarmist rhetoric bears striking resemblance to the last time it faced sweeping new safeguards: during the New Deal reforms. The parallels between the language used both then and now are detailed in a report released today by Public Citizen and the Cry Wolf Project.
Political Economy Research Institute is a think tank focused on a variety of subjects such as diverse financial regulation, living wages and environmental protection.
Consumer Federation of America defends the consumer interest in fields ranging from housing and financial services to food safety.
The Service Employees International Union represents workers the public sector and a variety of industries in the United States.
The National Community Reinvestment Coalition works against unfair lending and banking practices, particularly those targeted towards low and middle income families.