2010 N.C. Senate Debates: on Corporations

Elaine Marshall: When capitalism takes over, we get economic collapse

Marshall pointed to stronger regulation, saying the mentality on Capitol Hill has been that Wall Street will heal itself and that market forces will take care of things. She said that regulators need more funding, and that businesses have had too cozy of a relationship with the government officials that oversee them. "We've seen what happens when capitalism takes over," said Marshall, a regulator herself as NC's secretary of state.

Burr said government shouldn't be playing a bigger role with a stronger hand but should focus on regulating the products that were overlooked--such as the complex derivatives blamed in the nation's economic collapse--and to make sure the existing regulators are doing their jobs.