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OpenMarket: June 2020

  • Unexpectedly Positive Jobs Report Is a Testament to American Ingenuity

    June 5, 2020
    The unexpectedly good news of Friday’s jobs report that 2.5 million jobs were added in the last month is a rather inspiring testament to American ingenuity. Faced with an unprecedented crisis that forced businesses to completely shut down and workers to stay at home, those same companies and workers didn’t give up and instead improvised and found a way to get back to business.
  • Pandemics, #NeverNeeded Regulations, and Ten Thousand Commandments

    June 4, 2020
    At Inside Sources, Wayne Crews and Ryan Young have an op-ed summarizing the main findings of Wayne’s new 2020 edition of Ten Thousand Commandments, plus some reforms that will help with the virus response and economic recovery.
  • "Social Responsibility" Expectations for Business Pivot from Voluntary to Mandatory

    June 3, 2020
    The Financial Times reported that many companies have cut dividends to shareholders because they are struggling with the current economic downturn. But even after we’ve recovered from the current emergency, reporter Billy Nauman writes, “[the] popularity of environmental, social and governance (ESG) investing could mean that dividend cuts extend beyond the downturn.”
  • Time to Permanently Sunset Waived #NeverNeeded Regulations

    June 3, 2020
    Many regulations have proven especially harmful during the COVID-19 crisis. But many of those waivers are temporary. Those temporary waivers should be made permanent. One of the principles behind CEI’s #NeverNeeded campaign is that if a rule is not needed during a crisis, it was probably never needed at all.
  • Navient Files for Summary Judgement in Meritless CFPB Case

    June 3, 2020
    On May 19, student loan servicer Navient filed for summary judgement on a CFPB lawsuit started over three years ago. In the filing, Navient urged Judge Robert D. Mariani of the Middle District of Pennsylvania to stop the litigation, arguing that the agency has yet to bring forth any evidence to support its claim that the company purposefully misled borrowers into forbearance.
  • Green Activists' Unwarranted Attacks on CPSC Nominee Nancy Beck

    June 3, 2020
    Left-of-center environmental activists are at it again, maligning the reputation of one of President Trump’s nominees—with little regard for the truth. One of their latest victims is toxicologist Nancy Beck, whom Trump recently nominated to chair the Consumer Product Safety Commission.
  • How Many Unions Are Still Charging Dues to Unemployed Workers?

    June 3, 2020
    How many unions are still charging dues to their unemployed members during the COVID-19 outbreak? While unions have been aggressively presenting themselves as the workers’ protectors during the COVID-19 crisis, it is unclear how many have been providing workers with the one form of financial relief that is directly in their power to bestow.
  • My Answer to J.K. Rowling on What Cryptocurrency Is

    June 2, 2020
    To paraphrase a famous financial services commercial from the 1970s and 1980s, when J.K. Rowling asks, people answer. When the famed author of the Harry Potter series of books requested an explanation of bitcoin on Twitter in May, hundreds of people raced to reply. On May 17, CEI's John Berlau joined the fray in a tweet thread addressed to Rowling.
  • DOL IG says “at least” $26 billion of CARES Act funds being wasted, most to fraud

    June 1, 2020
    At least $26 billion taxpayer dollars are going to be wasted through the Coronavirus Aid, Relief, and Economic Security (CARES) ACT, with “a large portion of it” being stolen through fraud, Labor Department Inspector General Scott Dahl told House lawmakers Monday. The government’s rules for providing COCID-19 relief funds have basically made it impossible to stop bogus claims.
  • EPA Finalizes Rule Limiting State Abuses of Clean Water Act to Block Fossil Energy Projects

    June 1, 2020
    On June 1, the EPA issued a final rule clarifying that the Clean Water Act cannot be used by states to block energy projects based on climate or any other grounds unrelated to water quality. This rule should help remove roadblocks to many such projects that both create jobs and keep energy affordable for homes and businesses.

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