BP, the Supreme Court on Corporate Accounting and Eliot Spitzer on CNN
Many are pointing to the BP oil spill as proof of the failure of free market capitalism.
The Supreme Court is expected to soon hand down a decision in Free Enterprise Fund v. PCAOB.
Ex-Governor Elliot Spitzer is reportedly trying to replace Campbell Brown on CNN.
1. BUSINESS
Many are pointing to the BP oil spill as proof of the failure of free market capitalism.
CEI Expert Available to Comment: Vice President Iain Murray on why the free market is not to blame for the disaster.
“The Gulf has become a huge “tragedy of the commons.” No one stood ready to protect the sea — certainly not the federal government — because no one owned it. Yet there are many ways to invest the ocean with property rights. Individuals could own oceanic resources such as reefs and even shares in fish stocks. Not only would such property rights give owners a real incentive to ensure that these resources grow and develop, they give the owners an incentive to defend those rights.”
2. LEGAL
The Supreme Court is expected to soon hand down a decision in Free Enterprise Fund v. PCAOB.
CEI Expert Available to Comment: Vice President Iain Murray on why the Supreme Court should hold that Public Company Accounting Oversight Board appointments are unconstitutional.
“PCAOB’s board members are appointed by the Securities and Exchange Commission and enjoy salaries commensurate with their enormous power — and are even paid more than the president. Yet according to that inconvenient document, the Constitution, federal officers are supposed to be appointed by the president and confirmed by the Senate.”
3. POLITICS
Ex-Governor Eliot Spitzer is reportedly trying to replace Campbell Brown on CNN.
CEI Expert Available to Comment: Senior Counsel Hans Bader on why media outlets should stop giving jobs to disgraced bureaucrats and politicians.
“Spitzer is just the latest liberal crook given a soapbox by the liberal media. The Washington Post just gave former auto czar Steve Rattner space to boast about the supposed success of the auto bailouts, even as the SEC was moving to ban him from Wall Street for three years because of his unethical conduct. “