A Reverse Tea Party, Geithner’s Insurance Plan and Trade War with Mexico
Environmental activists pour bottled water into Boston Harbor to protest “water privatization.”
Treasury Secretary Timothy Geithner proposes a vast expansion of federal regulation of financial firms and insurance companies.
Secretary of State Hillary Clinton cites progress being made in a major trade dispute with Mexico.
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1. ENVIRONMENT
Environmental activists pour bottled water into Boston Harbor to protest “water privatization.”
CEI Expert Available to Comment: Director of Risk and Environmental Policy Angela Logomasini reacts to the “reverse [Boston] tea party”:
“Yes, indeed, the term ‘reverse tea party’ is oh so appropriate. Our founding fathers protested tyranny and called for freedom with their forward-thinking Boston Tea Party. Today, greens do the reverse. They protest freedom, private enterprise, and your right to choose. They call for more government, more mismanagement of our resources, and less freedom!”
2. BUSINESS
Treasury Secretary Timothy Geithner proposes a vast expansion of federal regulation of financial firms and insurance companies.
CEI Expert Available to Comment: Senior Fellow Eli Lehrer sizes up Geithner’s proposal:
“Federal oversight of insurers makes sense and, most probably, there’s little harm in a system that excludes the smallest insurers from federal oversight. I’m worried, however, that making the system mandatory for large firms and closed to small ones, as Secretary Geithner intends to propose, will create a split estate in the insurance industry. If the Federal Government says that certain insurers are ‘too big to fail’ and others are not, then it gives an enormous advantage to certain private business over others. And that’s a bad idea.”
3. TRADE
Secretary of State Hillary Clinton cites progress being made in a major trade dispute with Mexico.
CEI Expert Available to Comment: Adjunct Analyst Fran Smith on how California Governor Schwarzenegger is weighing in on the negotiations:
“It seemed like California Gov. Arnold Schwarzenegger didn’t have guts, despite his super-macho screen image. Yesterday, however, he wrote to members of the California Congressional Delegation, the country’s most powerful delegation in terms of the key leadership positions they hold, where he urged them to restore the pilot Mexican trucking program to avert trade retaliation. Schwarzenegger pointed out how Congress’ termination of the program will hurt the economy and jobs, particularly in California… Will Democratic leaders stand up to the Teamsters on this issue? Don’t count on it — too many are indebted to the unions for their 2008 win.”
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