Edward H. Smith
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Manchester, NH 03101

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EHS Daily Journal #38 - July 27, 2009

Quid Pro Quo

 
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The following Q & A appears at INVESTOPEDIA (A Forbes Digital Company):

"What Does Quid Pro Quo Mean?

A Latin phrase meaning 'something for something'. This term is typically used in financial circles to describe a mutual agreement between two parties in which each party provides a good or service in return for a good or service."

Investopedia further explains that "Quid pro quo agreements are sometimes viewed negatively. For example, in a quid pro quo agreement between a large financial house and a company, the financial house might alter poor stock ratings in exchange for company business. In response to these potential occurrences, the NASD has issued rules in order to ensure that firms put customers’ interests before their own."

Unfortunately, it appears that the legislative process in Congress has become an unmercifully complicated process of never-ending, self-serving quid pro quo agreements which serve, in the final analysis, to put special interests in front of the needs of the people.

How else can you really explain the current delay in health care reform?

The long-standing practice of "you scratch my back and I'll scratch yours" has to be taken out of the legislative process for America to even have a chance at the so-called "economic recovery" that is now supposed to take place.

Otherwise, it will be business as usual in Washington and we'll get nowhere fast (except deeper in debt).

Hope Congress enjoys its break.

- Ed Smith, Publisher
The EHS Letter Manual