Getting rid of government regulations was a centerpiece of Donald Trump's campaign, and he's already signed an executive order that requires federal agencies to cut two existing regulations for every one they implement. He and other conservatives argue government regulation hampers business and harms job growth. But others insist Wall Street and corporate America must be regulated to safeguard our economy, protect our environment, and defend the rights of all citizens. What do you think? PERSPECTIVES The president just held a ceremony in which he used a pair of gold scissors to cut a giant piece of red tape. President Trump argues we need to roll back regulations in order to create jobs and stimulate economic growth. "This is what we have now," the president said, gesturing toward stacks of paper that appeared to be more than 6 feet tall. "This is where we were in 1960," he continued, this time motioning toward much smaller, shin-high stacks of paper. Both stacks … [Read more...] about Are government regulations bad for America?
Republicans are pushing a very dangerous bill in the House of Representatives this week that would freeze much of the federal government’s regulatory power until the unemployment rate reaches 6 percent. Well, that’s what they say anyway—an embarrassing error (we hope) in their bill would make the rollback virtually permanent. The “Red Tape Reduction and Small Business Job Creation Act” is yet another attempt by Congressional Republicans to use ostensible job creation as a gloss for rolling back government protections. Naturally, the problem with the economy today is that demand is insufficient—companies are posting record profits, and our current malaise is not an issue of corporations being over-regulated but rather lacking strong markets to sell products. Rolling back regulations won’t create new jobs, as even Bruce Bartlett, an economic adviser to Ronald Reagan, has said. But beyond failing to stimulate employment, this “Red … [Read more...] about Republicans Want to Freeze Government Regulation—Forever?
President Trump signed an executive order Monday morning requiring the elimination of two federal regulations for every new one created. Trump described it as be "the biggest such act that our country has ever seen" shortly before signing it in the Oval Office. "If you have a regulation you want, number one, we’re not gonna approve it because it’s already been approved probably in 17 different forms,” Trump said. “But if we do, the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation, they have to knock out two.” The signing of the executive order requires federal agencies to eliminate two existing regulations for every new regulation they propose. Trump said the executive order will also eliminate some government regulations already in place. “Unless prohibited by law, whenever an executive department or agency (agency) publicly … [Read more...] about President Trump signs executive order targeting government regulations
The great taxi war of 2014 is underway. High-flying companies like Uber and Lyft are disrupting the car-for-hire business in New York City. Uber is playing by the rules, in New York at least; Lyft, deeming itself a “ride-sharing” business, not so much. And when it is over, things will never be the same. We will travel by hovercraft and communicate with drivers telepathically and pay for our rides with bitcoins. Ok, so none of that is going to happen. At least not soon. In fact, when the dust settles, we will still be left with cars driving us places — slowly in most cases — and charging us regular money to do it. Meantime, we’ll have the heavy hand of government regulators meddling in almost every aspect of the business. And that’s a very good thing. Don’t get me wrong. Smartphone apps that let you call for and pay for a car are great improvements for a lot of users. And if a company like Uber wants to use their massive venture … [Read more...] about All hail government regulation
He’s one of the most prolific sperm donors in the U.S., believed by his own calculations to have fathered nearly 400 children. And now Kirk Maxey, a 51-year-old graying baby boomer from Michigan, is involved in an innovative project that could go a long way toward helping foster understanding of how genes affect our health, according to Newsweek. He’ll have his genome, or inheritable traits, mapped and the results put on the Internet. Through the Personal Genome Project at Harvard, Maxey - who now is calling for better government regulation of the business of sperm donation - is making his genome public. He hopes whatever information it reveals will help his kids and their mothers someday. "I think it was quite reckless that sperm banks created so many offspring without keeping track of their or my health status," Maxey told Newsweek. "Since there could be [many families] that could have to know information about my health, this is my effort to correct the wrong." … [Read more...] about Man who fathered close to 400 kids works for better government regulation of sperm donation clinics
CARACAS, Venezuela — Venezuela's government is seizing a bank controlled by Texas financier R. Allen Stanford after panicked investors withdrew at least $26.5 million on news of fraud charges against him, the finance minister said Thursday. Stanford Bank SA will immediately be put up for sale and the government will back deposits, Finance Minister Ali Rodriguez said. The government is assuming total ownership of Stanford Bank SA and is expected to receive the proceeds of the sale, a bank spokeswoman said. She spoke on condition of anonymity because she wasn't authorized to speak publicly about the matter. The takeover and sale were approved by the bank's board, which was meeting with government regulators to coordinate the hand-over, the bank spokeswoman said. "Some groups have already expressed interest in acquiring this bank," Rodriguez said. Stanford Bank branches across the country were temprorarily shut Thursday under a decision by the government and bank directors … [Read more...] about Venezuela government seizes local Stanford Bank
WASHINGTON - The Bush administration Monday proposed the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression. The plan would change how the government regulates thousands of businesses from the nation's biggest banks and investment houses down to the local insurance agent and mortgage broker. Treasury Secretary Henry Paulson unveiled the 218-page plan in a speech in Treasury's ornate Cash Room, declaring, "A strong financial system is vitally important — not for Wall Street, not for bankers, but for working Americans." The administration's plan drew criticism, however, from Democrats who said it did not go far enough to deal with abuses in mortgage lending and securities trading that were exposed by the current credit crisis. Some state officials criticized what they saw as unwanted federal intrusion on their turf. Massachusetts Secretary of the Commonwealth William F. Galvin blasted Paulson's … [Read more...] about Administraton unveils sweeping plan to overhaul financial regulation
WASHINGTON - Fears that the government will be forced to rescue Fannie Mae and Freddie Mac could well become a self-fulfilling prophecy. Shares of the government-chartered mortgage finance giants plummeted Thursday and are trading at levels last seen in the early 1990s. If the prices don't recover, it will be harder for the two companies to raise more money through stock sales to compensate for losses from the housing bust. Investors are afraid their stakes will vanish if the government is forced to rescue the companies. "The government has to step in and do something," said Friedman, Billings, Ramsey & Co. analyst Paul Miller. Freddie Mac shares fell $2.26 or 22 percent, to $8, after sinking as low as $6.75 earlier in the day. Shares of Fannie Mae fell $2.11, or 13.8 percent, to $13.20, after earlier falling to $11.70. Testifying on Capitol Hill, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sought to calm investor jitters about the … [Read more...] about Fannie Mae, Freddie Mac sink on government rescue fears
Parents try to control what their kids watch on TV - and see elsewhere - but they admit they might need a little help from the government to curb sex and violence when the tykes are watching. Two-thirds of parents sampled in a study released yesterday by the Kaiser Family Foundation said they were "very" concerned that kids are exposed to too much damaging material in media.A similar number of parents said they'd favor government regulations to restrict content during family viewing hours. Sixty-five percent of parents interviewed for the survey said they try to control kids' exposure to violent and sexual material on TV and the Internet.Some 18% of those polled felt they should do more."While parents are still concerned about a lot of what they see in the media, most are surprisingly confident that they've got a handle on what their own kids are seeing and doing - even when it comes to the Internet," Vicki Rideout, vice president of the Kaiser Foundation, said in a … [Read more...] about Parents: Government oughta curb TV sex & violence
More than 100,000 rent-regulated apartments are on the verge of flipping to higher market rates because of a loophole in the state housing law — setting the stage for housing to become even more expensive in the coming months, according to a new analysis. It’s particularly disturbing, advocates say, because the neighborhoods about to lose the most regulated apartments are some of the priciest in the city, which will likely lead to once-relatively cheap apartments hitting rents of about $4,000 a month. The lower Manhattan/Tribeca area stands to lose the most regulated units. Forty-six percent of the area’s 19,000 regulated apartments are expected to be priced out of the system soon, according to a city analysis of census figures. The market rate for a studio in that area is a whopping $3,888 — and that’s without a doorman. EXCLUSIVE: POLS, ADVOCATES TO PROTEST RENT LAWS AT CUOMO Other neighborhoods in … [Read more...] about EXCLUSIVE: More than 100,000 rent-regulated apartments may surge to higher rates due to state law loophole