From: azur@netcom.com (Steve Schear)
Date: Thu, 5 Sep 1996 09:57:10 +0800
To: cypherpunks@toad.com
Subject: Reputations
Message-ID: <v02130500ae5350144f63@[10.0.2.15]>
MIME-Version: 1.0
Content-Type: text/plain


"Regulation - which is based on force and fear - undermines the moral base
of business dealings. It becomes cheaper to bribe a building inspector than
to meet his standards of construction. A fly-by-night securities operator
can quickly meet all the S.E.C. requirements, gain the inference of
respectability, and proceed to fleece the public. In an unregulated
economy, the operator would have had to spend a number of years in
reputable dealings before he could earn a position of trust sufficient to
induce a number of investors to place funds with him. Protection of the
consumer by regulation is thus illusory."

  -- Alan Greenspan

TCM, seems like a reputable source to support your views.

-- Steve



PGP Fingerprint: FE 90 1A 95 9D EA 8D 61  81 2E CC A9 A4 4A FB A9
---------------------------------------------------------------------
Steve Schear, N7ZEZ       | Internet: azur@netcom.com
Grinder                   | Voice: 1-702-655-2877
Sacred Cow Meat Co.       | Fax: 1-702-658-2673
7075 W. Gowan Road, #2148 |
Las Vegas, NV 89129       |
---------------------------------------------------------------------