17
Jun
2005

Destructive government

The basic function of government is to protect person and property, but all too often government does just the opposite. In their zeal to protect us from financial fraud, government officials recently engaged in a series of actions that have cost tens of thousands of innocent people their jobs, reduced U.S. international competitiveness, and destroyed more than $1 trillion in value for American shareholders. ... In the wake of the Enron scandal, the government went after Enron's auditor, Arthur Andersen, and destroyed the company. The Supreme Court has just overturned the conviction of Arthur Andersen. The government's irresponsible attack on the company cost 28,000 innocent people their jobs and made the auditing business less competitive, which has substantially increased auditing costs for every U.S. company. That, in turn, hurts their employees, suppliers and customers...

//www.washtimes.com/commentary/20050615-085045-2628r.htm

from Washington Times, by Richard W. Rahn


Informant: Thomas L. Knapp
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