Price Gouging

KipEsquire takes on the congress of the United States trying to ban something (in this case, price gouging) that they cannot define. It reminds me of President Reagan Porn Hearings. That was pretty much their conclusion as well: porn should be banned, but we cannot define it in a way that includes all the stuff we don't like without outlawing half the art hanging in our art museums. I don't recall who said it, but the money quote was something along the lines of, "I can't define it, but I know it when I see it!" Some things never change.

Like Kip, I would love to see the analysis that concludes that it is "obscene" for ExxonMobil to convert 15% of its sales into profit, but why it is acceptable for Procter & Gamble to make 19.4%.

(shrug)

Whoever said our "leaders" were logical? Or smart. Or honest. I wonder how much P&G paid congress for a pass on its gouging?