Some further comments on what I wrote about yesterday, on the presumption of innocence. Some people don’t seem to realize that government regulations, mandates, restrictions of, and demands for information about private business and private property are schemes in which the individual is presumed guilty and must provide information to the government or follow bureaucratic nonsensical rules to prove one’s innocence. I say that this is a bad thing.
For example, the Left’s elitist extraordinaire Elizabeth Warren is organizing the new fascist “Consumer Financial Protection Bureau,” which will not protect consumers’ finances, but will protect the corporatist, politically-connected bigwigs and only expand the political power that Washington already illegitimately has over the people and their wealth and property. Some people want Warren to be the Finance Dictator, and has been appearing before a House committee and wasted time arguing and bickering with the moron Republican chairman Patrick McHenry, an ignoramus up to his own ears in corruption, like former Sen. Chris “Countrywide” Dodd. They’re all a bunch of jerks.
My point is, no matter what business you’re in, banking, mortgage and lending, stock investments, financial planning, etc., you have a right to freedom of association and contract, between you and your customers or clients, and all of you have a right to be left alone, and no one has any right to intrude on your privacy, your terms of contracts, how you do business. People all have a right to presumption of innocence and be otherwise left alone especially by the State. The only moral justification for anyone to make any demand for private personal or financial information is if one is actually suspected of some actual crime against some actual alleged victim, crime of fraud or theft.
Banks and other financial institutions should be free to do their business with customers, depositors or borrowers, etc., and no one bank, large or small, should be given any extra protection by the government for any reason. If a bank is having a hard time financially, then that means they need to adjust their ways of doing business, and if that means going out of business, so be it. And it is the consumer’s responsibility to inform oneself of who the more qualified and better banks are and who are not. Like any other type of business that consumers patronize, their business with a bank will always have some risks.
People need to take responsibility for the consequences of their actions and decisions, and they shouldn’t be allowed to use the armed force of government to steal from others in order to receive bailouts.
But when we have a structure in which everyone must submit information about one’s business’s private contracts, customers and financial information to prove one’s innocence, and be constantly under the scrutiny of know-nothing bureaucrats like Elizabeth Warren, we then live in an increasingly Third World society, and that is what America has already become, and that also is another reason why there was a 2008 financial meltdown: too much government control and scrutiny over private businesses and their finances, that led to widespread irresponsibility, corruption and chaos.
(Robert Wenzel of Economic Policy Journal had this take on how clueless Elizabeth Warren is.)