Strictly Right

Politico is reporting that buried deep inside the the new Wall Street regulation bill is a law that “grants the federal government broad new powers to compel financial firms to hire more women and minorities.”

The government decided that it was ‘good’ for Americans to own their homes. As for people that couldn’t afford a home? The government decided that they would compel banks to loan money to sub-prime lenders, in order to expand the ‘right’ of home-ownership. The end result: the collapse of the housing market, a major catalyst in the financial meltdown of 2008. This is just one of a seemingly infinite possible examples of social engineering by the government backfiring.

In the most recent instance, the Wall Street law states that the federal government has the right to terminate contracts with financial institutions which fail to ensure “fair inclusion” of women and minorities. What constitutes “fair?” That is left up to the discretion of the benevolent big government.

The government creates this same problem over an over again.  They fail to ever think past step 1. Step 1 is always something to the effect of “it sure would be great if everyone could own a home” or “in this modern, industrialized society, everyone deserves publicly funded healthcare.” However, the government never accounts for: how to procure the needed funds, what the effect will be on the housing/medical etc. industries, or other intangibles that are not immediately visible. That is why government orchestrated social engineering is destined to fail every time it is tried. We live in a constantly changing world, and the government cannot adapt fast enough. It was never meant to. In the Wall Street case, it may be a desirable goal to have more women and minorities working in the financial sector, but that should be left to the free market to decide. Finance is an exceptionally competitive field. It is difficult to imagine firms rejecting applicants based on anything other than merit. Unlike the government, these institutions have to turn a profit, otherwise they go out of business. Perhaps unequal representation of different peoples in this, or any other field, reflect a shockingly controversial reality: all people are different. If the National Basketball Association received government money, should it have to pass the “fair inclusion” test? Or should players be judged on ability?

Another consequence, this one obviously intended, of social engineering is the expansion of government, both in terms of physical size, and overall power. The new Wall Street law creates 20 new offices of Women  and Minority Inclusion in the Treasury Department, Federal Reserve, Securities and Exchange Commission and other finance-related agencies. These new offices will not just regulate the much maligned ‘big banks,’ they will have the power to interfere with local, mom-and-pop firms as well. More government, less freedom – Obama’s answer to all problems.

The Obama administration and its toadies in Congress are anti-business. Every day they wage a war on industrious people, painting entrepreneurs as villains. With ever more regulations, they make it nearly impossible to succeed in the United States. In the end, their social engineering will ensure equality in one way: Americans will be equally miserable.

Tags: Barack Obama, Democratic Party, Social Engineering, Socialism