Response to Colin Raaberg Regulations

 Government Regulations have only existed and been implemented in a relatively short amount of time. Since then many companies have become more environmentally, socially, and ethically conscious. Do you think there will ever be a time when we won't need government regulations? Why?

Colin brings up many good points.  companies do have the ability to asses themselves a regulate themselves better then the government.  there are also many companies like Halliburton that refuse to obey regulations even when faced with penalties.  However as colin pointed out since government regulation acts have taken place we have seen an increase in CSR in all areas. government regulation cannot truly force everyone to comply, however even if they only stop a few companies form hurting the environment, or taking advantage of consumers they are doing some good.  as far as to whether or not there will be a time where nor government regulation is needed I'm not sure it will come.  many people can be trusted to do the right thing, however there as those, that as long as it is profitable, will take advantage and break the rules.  unless we can all corruption and greed government regulatory agencies will be needed.

Government Regulation

Do you believe self regulation is more or less effective than governmental regulatory agencies?  Why?

No i believe that government agencies are necessary when dealing with regulating large financial structures.  almost everyone is familiar with the housing crisis in 2008 which was in a way caused by unregulated mortgages and securities.  However there are many cases currently that show that government intervention is needed.  The case of banking giant HSBC and money laundering comes to mind. The international bank has admitted to laundering money for mexican drug cartels, organized crime, and others.  The bank has been forced to pay a fine of almost $2 billion and a few managers have been fired.  Although the government does have regulation on banks many time that regulation fails to be effective.  when this happens and people, like those at HSBC, are left to self regulate and often an outcome like this is the case.  although not everyone is going to take advantage or break the rules when no ones looking, there are those who will and for that reason the government needs to regulate some organizations.

Do you think the fine on HSBC and more government regulation will stop something like this from happening again?