Centinel
Banned
- Joined
- Oct 12, 2011
- Messages
- 2,984
- Reaction score
- 1,366
- Location
- Penn's Woods
- Gender
- Undisclosed
- Political Leaning
- Independent
For fraudulent business practices, definitely yes, government should police banks.But does that include regulating banks and preventing predatory lending practices... or, for example, are the consumers just on their own to read and understand every word of a contract written by lawyers hired to write contracts impossible for laymen to understand.
For private contracts, I see no reason why any concerned citizens (outside of government) could not create one or more (preferably more) regulatory agencies, the purpose of which would be to forbid certain contracts or practices. If such a regulatory agency were to forbid a shady practice or contract, that agency would withhold its seal of approval. People would then be able to trust that contracts and services were on the up and up, based on testimony from a trusted and knowledgeable third party, pretty much the same as the fed or sec.
Again, I don't think anyone is suggesting that government authority not be respected, or that the government's ability to investigate and apprehend criminals be weakened. I believe that most libertarians are opposed to the government interfering in voluntary agreements between competent and consenting parties. There is no reason for the government to interfere in the peaceful activities of the citizen. To do so would be for the government to itself act as an aggressor.If more and more people do not respect reasonable government authority, we move toward anarchy. When the central government is impotent to enforce law and order, then you have a de facto anarchy.