Large corporations would not exist but for a powerful regulatory state. The two go hand in hand, feed off each other, and there is often a revolving door between government posts and top corporate jobs- especially in the most highly regulated industries such as finance and food. People in government are not smart, no, but they don't have to be smart to be dangerous. I doubt President Obama read a single line of the horrific Food Safety and Modernization Act he just signed, and wouldn't have been able to make heads or tails of it even if he had. But that bill, passed on by a bunch of equally unqualified clueless nitwits in the House and Senate to reach his desk, is nonetheless the law of the land. Power need not be "smart" to screw us, it only needs to be powerful.



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