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Excerpt: "He doesn't want to regulate where regulation is necessary - at the highest reaches of the economy, where public immorality has cost us dearly, and will cost even more unless boardroom behavior is constrained. Yet he wants to regulate where regulation is least appropriate - at the level of the individual, in bedrooms and other intimate spaces, where private morality should govern."

Portrait, Robert Reich, 08/16/09. (photo: Perian Flaherty)
Portrait, Robert Reich, 08/16/09. (photo: Perian Flaherty)



Romney Has Morality Upside Down

By Robert Reich, Robert Reich's Blog

16 May 12

 

http://www.youtube.com/watch?v=4TB73Lw1XtE

itt Romney's reaction to J.P. Morgan Chase's mounting losses from reckless trades is “the market will take care of it.” His spokesman says “no taxpayer money was at risk” so we don't need more financial regulation. Romney has even promised to repeal Dodd-Frank if he's elected president.

Yet at the same time, Romney has come out strongly against same-sex marriage. He's also against abortion. He has no problem with government intruding on the most intimate of decisions a person makes.

He's got private and public morality upside down. He doesn't want to regulate where regulation is necessary - at the highest reaches of the economy, where public immorality has cost us dearly, and will cost even more unless boardroom behavior is constrained. Yet he wants to regulate where regulation is least appropriate - at the level of the individual, in bedrooms and other intimate spaces, where private morality should govern.

This is a dangerous confusion. It should be a matter of personal choice whom to marry and when to have children. But it is undoubtedly a matter of public choice whether big banks should be allowed to take the kind of risky bets that plunged the economy into the worst downturn since the Great Depression, and whether people with great wealth and should be able to buy our democracy with huge campaign contributions.

Please see the attached video and pass it on.


Robert Reich is Chancellor's Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written thirteen books, including "Locked in the Cabinet," "Reason," "Supercapitalism," "Aftershock," and his latest e-book, "Beyond Outrage." His 'Marketplace' commentaries can be found on publicradio.com and iTunes.

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