Republicans are employing the same vagueness to attack government regulations as they have successfully used to justify tax cuts as a path to general prosperity.

They've gotten away with this because Democrats and the media have not required specificity. As I read or listen to Republicans making sweeping claims about how taxes and regulations "kill jobs" I flash on the movie, Jerry Maguire. When the sport agent had a manager on the phone and that manager was making vague promises, Jerry would just repeatedly shout into the phone: SHOW ME THE MONEY!

If only the media would do the same when Republicans claim federal regulations are killing business and so are taxes on companies and the wealthy. Don't you wish those reporters would do their job as well as Jerry Maguire did his?

Now don't get me wrong. I don't doubt for a second that the federal register is filled with stupid, outdated and just plain annoying bureaucratic regulatory nonsense. I mean hell, look who we send to Washington to write our laws. Whatya expect?

But after more years than I wish to recall of writing about one financial services meltdown after another, I am not ready for an unregulated world. At least not until proves they've successfully repealed the laws of human nature first.

Every single time I attended congressional hearings over the years on the financial meltdown de jur, I heard both Dems and Repubs aping the same refrain:

"Where were the regulators when all this was going on?"

Of course just months before these members of congress were asking that question some of them had been busy, busy, busy slashing away at the budgets of the very regulatory agencies from which they were now demanding accountability. (If you're looking for shame, it's under "s" in the dictionary.)

The regulatory process, as flawed as it is, is still no where near as flawed as plain old, everyday human nature. If you what you want is to turn Wall Street into a modern-day Dodge City, just deregulate it.

Ah, but I ramble on. Here's what should be the bottom line in all this.

When Republicans start with their talking point that, "Government regulations are costing businesses billions, killing job and retarding growth," Democrats. (and the freakin' media) should demand specificity:

"Okay, fine. So, where's your list? Give us a list of the specific regulations you want either eliminated or reduced. Take each one of them and provide us with a short fact-sheet on each regulation that shows:

What event(s) sparked the creation of this regulation in the first place? What businesses are negatively impacted by this regulation and how? How many jobs could be created if we kill this particular regulation? How many jobs will be lost if this regulation is removed? Why would the event(s) that sparked this regulation in the first place no longer be a concern if this regulation is eliminated or reduced?

That's it - five short and sweet questions Republicans and Tea Partiers and their ilk should be forced to answer before anyone takes their regulatory blather seriously.

Look, as I said above, I've seen what happens when regulations and regulatory agencies are mindlessly cut, retarded and vilified into inaction. Do the names Charles Keating and Michael Milken and Bernie Madoff ring any bells? How about "subprime mortgages?"

And those events occurred with the current regulatory structures in place. Imagine what these fiscal Genghis Khan's could steal in an even weaker, stripped down, gutted regulatory environment.

So sure, by all means, let's do an audit of the federal regulatory world, one regulation and one agency at the time. And insist that industry groups who want regulations changed or eliminated put forth their case for each and every regulation they don't like

And force the GOP do the same.

But let's take this discussion out of the backrooms and lobbyist's offices. Let's set up a publicly accessible website where each side can post their cases. Limit arguments to the size included in ballot initiatives, 750 words tops. And require those arguments are in plain English, not government or industry gobbley-goop.

Oh, and any figures sited to support one side or the others' positions must be first be verified by an appropriate non-parisan person or agency, like the GAO, Academy of Sciences, etc.

If there's one thing that cannot survive the bright light of exposure, it's bullshit. And there's no shortage of it in this entire anti-regulatory, and anti-taxes brouhaha. In fact, I would venture to claim that nearly the entire GOP/Tea Party machine runs on a mixture of bullshit and bile.

Let's get that out into the light. Don't let them just claim. Make them explain.

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newsforreal.com



About author Stephen Pizzo is the author of numerous books, including "Inside Job: The Looting of America's Savings and Loans," which was nominated for a Pulitzer. His web site is Stephen Pizzo is the author of numerous books, including "Inside Job: The Looting of America's Savings and Loans," which was nominated for a Pulitzer. His web site is News For Real