It's the government's role to regulate. On citizen's behalf. That's why we elect them.
From the article Wouldn't there be a backlash against government intervention in those investments? Uh no. The government is regulating investments and business practices all the time. When investor activity adversely affects non-investors, especially in core areas like housing, people expect protections. Look where investor greed got most of the G20 countries in 2009. For sure the government should consult all stake holders but most people expect their government to work for them not corporations. It corporations role to figure out how to profit under the rules.
http://www.cbc.ca/news/business/peter-armstrong-housing-government-intervention-1.4082904
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Well said, Cass. I have been reading elsewhere that Canada avoided the brunt of the financial catastrophes of the 2000s because its system was focused on reliability, not speculation.
ReplyDeleteI heartily agree!
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