Friday, November 14, 2008

keeping a close eye...: Regulation is Good for Philanthropy

keeping a close eye...: Regulation is Good for Philanthropy: "Thursday, November 13, 2008
Regulation is Good for Philanthropy

By Aaron Dorfman

According to an article published on October 23, 2008 in the New York Times, former chairman of the Federal Reserve Alan Greenspan “admitted on Thursday that he ‘made a mistake’ in trusting that free markets could regulate themselves without government oversight.”

If there is a silver lining to the current economic crisis, it is the new consensus emerging that government regulation, in proper proportions, is absolutely necessary. The lesson is applicable to all sectors, not just in the country’s financial industry."

1 comment:

Steve said...

Yes, there is definitely a need for regulation. The public and society in general benefits by having the nonprofit sector well run and it cannot just be left to internal governance. There is a link I like which list the reasons the California Attorney General gives for regulation and charity registration.