Can someone explain to me, anybody, why the oil companies, that had revenues in the last quarter of some $100 billion, each and every one of them saw huge increases in terms of their net profits, why they need subsidies?
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I wanted to note that in hearings before the Committee which I Chaired there were a number of military prosecutors that testified that described that entire process as a sham, a joke and a fraud being perpetrated.
If they want the market to function in a way where there is no government support, intervention, regulation, they will discover it if there is another September of 2008; it will be a debacle.
If we continue to drag this out... we are going to find ourselves in a real serious, severe crisis.
It isn't about government overregulating. It is government abdicating its responsibility to supervise.
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