This is a very important historical quotation because it clearly stated the left wing view of regulation. Large Business had been so unethical and illegal at the time that the majority of Americans and Congress, together with a Republican President, thought that it would be good to “weld” the growth and development of large companies to the Government. The right wing saw this as extreme Communism. Over time, when corporate greed and excesses had been controlled by government and was not as prevalent, the inhibition on growth and development of welding corporations to Government was recognized and a period of deregulation followed with most Americans not wanting to allow large companies to be completely deregulated and also not wanting them welded to the government. The extent of regulation has been the political contest with the extreme left and extreme right still holding to their ideological positions and sometimes paralyzing the middle as in the Obama administration.