Genetically Modified Foods! Good or Bad??

Over the past couple of days, I did some research on the subject of Genetically Modified (Gmo) foods. This is always a controversial topic because it has some great benefits and criticisms associated with it. One of the reference I found explained the pros and cons with (Gmo). Listed below are some of the focal points of the article:

Pros:

1. Pest resistance
2. Herbicide tolerance
3.Disease resistance
4.Cold tolerance

criticisms:1. Environmental hazards
2. reduced effect of pesticides
3. Gene transfer to non-target species
4. Unknown effects on human health

Further into the article, there was a description of the FDAs involvement regarding Gmo and the regulations (or lack of) that are imposed:

" The FDA historically has been concerned with pharmaceuticals, cosmetics and food products and additives, not whole foods. Under current guidelines, a genetically-modified ear of corn sold at a produce stand is not regulated by the FDA because it is a whole food, but a box of cornflakes is regulated because it is a food product. The FDA's stance is that GM foods are substantially equivalent to unmodified, "natural" foods, and therefore not subject to FDA regulation."

Reference: http://www.csa.com/discoveryguides/gmfood/overview.php