Free Market Threat

  • Aired:  01/19/12
  •  | Views: 65,996

Jason Jones talks to New York businessman Lou Ferrante about the destructive consequences of government overregulation on the Mafia. (5:55)

>> Jon: WELCOME BACK.

I'LL TELL YOU WHAT, PEOPLE.

THERE IS ONE OPEN MARRIAGE

IN THIS COUNTRY THAT WILL

NEVER GO SOUTH.

AMERICA'S OPEN MARRIAGE WITH

THE FREE MARKET.

THAT'S THE WORST SEGUE EVER.

(LAUGHTER)

JASON JONES HAS THIS REPORT.

>> Reporter: THERE'S NO

QUESTION THERE'S ONE THING

SYSTEMICALLY DESTROYING THE

BACKBONE OF OUR ECONOMY.

>> THE REGULATIONS ARE WHAT

ARE KILLING THE JOB CREATION

IN THIS COUNTRY.

>> REGULATION IS CRUSHING

AMERICAN BUSINESS.

>> AND NOW ACCORDING TO

SMALL BUSINESSMAN LOU

FERANTA ONE OF THE NATION'S

PROUDEST FAMILY-RUN

ORGANIZATIONS IS FEELING THE

SQUEEZE OF OVERREGULATION.

>> THE MAFIA IS THE LONGEST

RUNNING FAMILY BUSINESS IN

THIS COUNTRY.

WITH ALL THE REGULATIONS

[BLEEP]ED EVERYTHING UP,

THEY'RE DESTROYING THE

MAFIA.

>> THAT'S SAD.

>> IT IS [BLEEP] SAD, THE

RICO LAWS ARE KILLING THE

BUSINESS OF THE MAFIA.

>> YES, CAPITALISM IS BEING

STRANGLED THANKS TO THE RICO

ACT WHICH MAKES IT EASIER TO

PROSECUTE AN ENTIRE

ORGANIZATION BASED ON THE

CRIMINAL ACTION OF A FEW

MEMBERS.

IT ALSO PUT FERANTA BEHIND

BARS FOR EIGHT YEARS.

>> LET ME TELL YOU

SOMETHING.

WHEN ADAM SMITH WROTE WEALTH

OF NATIONS, HE HAD THE MAFIA

IN MIND.

LACE AYE [BLEEP] FAIRE.

>> AMAZINGLY BUREAUCRATS

LIKE FORMER MOB PROSECUTOR

WANT TO STAND IN THE WAY OF

LASISSEZ [BLEEP] FAIRE

ECONOMIC.

>> IT IS A PER VERSION OF

CAPITALISM BECAUSE IT

INVOLVES BID-RIGGING,

CORRUPTION, BRIBERY,

EXTORTION.

>> THE MAFIA IS SUPPLY AND

DEMAND.

THEY NEED MORE SUPPLY.

THEY DEMAND IT, YOU GIVE IT

TO THEM.

>> COME ON-- THE MOB DEMANDS

TRIBUTE.

AND IF YOU DON'T PAY THE MOB

TAX YOU GET YOUR LEGS BROKEN.

>> Reporter: THAT IS A

MISUNDERSTANDING OF A

SUCCESSFUL BUSINESS MODEL

WALL STREET CAN LEARN FROM.

>> WHEN THE RECESSION HIT,

MAFIA WASN'T LOOKING FOR

BAILOUT MONEY.

>> Reporter: YOU DIDN'T PAY

YOUR BETS, YOU GOT A

BASEBALL BAT IN THE FACE.

>> AT THE WORST.

>> THE MOB IS WEAKER TODAY

BECAUSE OF RICO AND THAT'S A

GOOD THING.

>> I SEE YOU'RE WEARING A

WIRE.

YOU HEAR ME YOU [BLEEP]

PITION, HUH?

YOU AIN'T GOT [BLEEP] ON ME.

>> YOUR STAFF GAVE ME THIS

MICROPHONE.

>> SO THEY DID.

YOU WERE SAYING RICO LAW,

THEIR EFFECTIVENESS,

CONTINUE.

>> IN ESSENCE, THE SUCCESS

OF RICO HAS CAUSED LESS

ENTHUSIASM FOR THE MOB

LIFESTYLE.

>> ENTHUSIASM, ENTHUSIASM,

WHAT'S MY ENTHUSIASM?

BAD HIT EN, FREEST

FORM-- BADMINTON, FREEST

FORM OF COMPETITION THERE

IS.

>> IS THERE A POINT?

>> MAKE UG NERVOUS?

>> NOT REALLY.

>> NO MATTER WHAT I TRIED,

REGULATORS REFUSED TO BACK

OFF.

FORTUNATELY THERE WERE

PEOPLE FIGHTING FOR THE FREE

MARKET LIKE ECONOMIST JOHN

DUNNHAM WHO AGREED TO MEET

ME FAR AWAY FROM THE FEDERAL

GOVERNMENT'S WATCHFUL

EYEWITNESSES YOU DUNHAM?

>> YEAH, I'M DUNHAM.

>> YOU KNOW A LITTLE

SOMETHING ABOUT REGULATIONS,

CORRECT?

>> YEAH, I DO, I HAVE BEEN

AN ECONOMIST FOR THE LAST 20

YEARS.

AND I'VE DONE A LOT TO FIGHT

AGAINST OVERREGULATION IN

AMERICAN BUSINESS.

>> WHY ARE WE MEETING IN A

PARKING LOT.

>> I'LL ASK THE QUESTIONS,

TOUGH GUY.

>> OKAY.

>> SO WHAT ARE WE GOING TO

DO TO THESE BA-FONGOOS DOWN

IN WASHINGTON.

>> I THINK THERE IS A LOT WE

CAN DO TO KEEP THE BAFONGOOS

IN WASHINGTON TO

OVERREGULATE.

VOTE AGAINST THEM.

>> SO PONY UP SOME CASH AND

BUY SOME VOTES, IS WHAT YOU

ARE SAYING.

>> I WOULDN'T SAY THAT.

WE NEED TO SEND A MESSAGE,

STRONG MESSAGE-- MESSAGE.

>> SEND THEM A MESSAGE LIKE

BROKEN THUMBS, HORSES HEAD,

WHAT.

>> IT SOUNDS LIKE YOU ARE

TALKING ABOUT THE MAVIA.

I'M TALKING ABOUT LEGITIMATE

BUSINESS --

>> WHOA, WHOA WHO IS TALKING

ABOUT THAT.

>> IF YOU ARE SPEAKING ABOUT

CRIMINAL ENTERPRISES THEN I

THINK THERE IS A DEFINITE

NEED FOR THE GOVERNMENT TO

USE LAW ENFORCEMENT METHODS

TO MAKE SURE THAT THEY DON'T

PROSPER.

>> I THINK WE SHOULD GO

FISHING.

>> EVEN THE FREE MARKETEERS

WERE SELLING OUT AND AS WE

ALL KNOW THERE IS ON ONE WAY

TO DEAL WITH RATS.

>> ARE YOU SHOOTING AT FISH?

>> I THOUGHT YOU WERE

ANTI-REGULATION, WHAT DOW

CARE.

>> BUT MAYBE THE WORST THING

ABOUT THESE REGULATIONS IS

THE HARM THEY'RE DOING TO

THE STORIED STRUCTURE OF

THIS PROUD AMERICAN

INDUSTRY.

>> BECAUSE OF THESE RICO

LAWS, SOME GUYS ARE ACTUALLY

REFUSING TO BE MADE.

>> THEY'RE TURNING DOWN

OFFERS TO GET MADE.

>> YEAH, THAT'S RIGHT.

GUYS REFUSING THE BIGGEST

HONOR IN THE MAFIA.

IT'S [BLEEP], YEAH, YOU

DON'T HAVE A JOKE, THAT'S

BECAUSE IT'S NOT FUNNY.

(APPLAUSE)

>> I HAVE TO GO TO THE

BATHROOM.

IS THAT ALL RIGHT?

>> [BLEEP] YOU ASKING ME FOR,

WHAT, DOW WANT ME TO HOLD

YOUR [BLEEP]?

>> LOOKS LIKE IT'S AN OFFER

THEY CAN REFUSE.

>> THAT'S NOT FUNNY.

>> IT WAS A LITTLE FUNNY.

>> NO, NOT AT ALL.

>> LITTLE BIT.

>> AS THE MAFIA STRUGGLES TO

OVERCOME THIS STIFLING

REGULATION, ONE THING

REMAINS CLEAR.

>> YOU REALLY ARE A [BLEEP]

IDIOT.

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