Necessary regulation | The Salt Lake Tribune
Get news, sports and politics alerts

Click here to manage your alerts
Necessary regulation
First Published Jan 14 2012 01:01 am • Last Updated Jan 14 2012 01:01 am

I received a message from Sen. Orrin Hatch about how outraged he was over President Barack Obama’s recess appointment of someone to head the new federal consumer protection agency. Hatch has his priorities all wrong. As our elected senator, sworn to protect the interests of the American people, he should be outraged over the following:

• The lack of federal regulation that failed to regulate the banking industry, resulting in many Americans obtaining mortgages they could not repay and causing the failure of our housing industry and economy;

Join the Discussion
Post a Comment

• The federal government’s failure to properly regulate offshore oil drilling, resulting in many Gulf of Mexico fishermen not being able to make a living and many resorts closing; and

• The lack of proper coal mining regulation, causing miners to lose their lives and families to lose husbands and fathers.

One lesson from the federal government’s inadequate industry regulation is that we cannot rely upon any industry to regulate itself. As long as profit is the primary motive, industry will always sacrifice the well-being of Americans.

Americans need protection from industry’s unbridled quest for profit. That must come from the federal government.

Richard S. Melenson

Salt Lake City



Copyright 2012 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Reader Comments
Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, click the red "Flag" link below it.
See more about comments here.
What are those badges some users have next to their names?


Staying Connected
Jobs
Shopping
Contests and Promotions
Affiliates and Partners