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OpenMarket: Regulatory Reform

  • Toxic-Asset Buy-Up: "Pure Plunder"?

    March 24, 2009
    People who have actually read the fine print of the Administration's trillion-dollar toxic asset buy-up program don't like it. One calls it "pure plunder." Both liberals like Nobel Laureate Paul Krugman, and conservatives like Chris Stirewalt, sum up the program as "Heads I win, Tails the Taxpayers Lose." Others argue it provides "public subsidies" for hedge funds that don't need them, and for "zombie banks" that ought to be shut down to cut the taxpayers' losses...
  • Toxic Asset Rip-Off

    March 23, 2009
    Obama is proposing that the Treasury provide loans up front and insurance against potential losses on the back end. It’s what Paul Krugman called "heads I win, tails the taxpayers lose."
  • "Heads I win, Tails the Taxpayers Lose": Toxic Asset Rip-Off

    March 23, 2009
    That's how analysts describe the trillion-dollar toxic-asset buy-up program proposed this weekend by the Obama Administration: "the president is putting forth his idea to have the Treasury become the new AIG. In order to get hedge funds to buy up toxic debt, Obama is proposing that the Treasury provide loans up front and insurance against potential losses on the back end. It’s what Paul Krugman called 'heads I win, tails the taxpayers lose.' By the way, it may cost another $1 trillion." The Treasury Secretary claims taxpayers won't lose a full trillion, because the assets aren't as worthless as their current...
  • Fishing for Rationality in the Beauty Salon

    March 23, 2009
    Thinking of getting one of those cool new “fish pedicures”? Well, you’d better act fast. 14 states have already banned the process. But a member of the Ohio State Board of Cosmetology says, “It seemed to me it was very sanitary, not sterile of course." But, “[s]anitation is what we’ve got to live with in this world, not sterility.”
  • Postmodern Union-on-Union Fight

    March 18, 2009
    The Service Employees International Union (SEIU) is being denounced by a group of its own employees for doing, well, nothing wrong or illegal, but something that SEIU wants to keep businesses it unionizes from doing: laying off staff and contracting out some operations. Reports The Washington Post:
    The Service Employees International Union, considered the most influential union in the nation, has notified the union that represents about 220 of its national field staff and organizers that 75 of them are being laid off. In return, the workers' union, which goes by the somewhat postmodern name of the Union of Union Representatives, has filed unfair labor practices charges against SEIU with the National Labor Relations Board. The staff union's leaders say that...
  • An Explosion of Litigation

    March 13, 2009
    Already burdened by $8 trillion in new federal spending commitments and the likelihood of higher taxes to pay for bailouts, pork, and welfare, the economy now faces an additional threat: an explosion of litigation. Even liberal Washington Post...
  • Economists Give Obama Failing Grade; New Bailouts Demanded As Obama Breaks Promises

    March 12, 2009
    Obama gets a failing grade from economists. “U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey.” Not content with the $8 trillion the Obama Administration has already committed for bailouts, pork, and...
  • Your Interests Are My Interests

    March 11, 2009
    As newspapers around the country are closing, Google's interest-based ads may be just the shot in the arm the content industry needs.
  • Al Gore Wants .eco Web Domain...

    March 10, 2009
    Since Dot Eco TLD announced that they were seeking establishment as a top level domain (TLD) at ICANN's (Internet Corporation for Assigned Names and Numbers) Mexico event last week with the cooperation of Al Gore, many have been asking why we need a new TLD.  Furthermore, why we needed a new TLD solely focused on environmental websites. There are a lot of legitimate arguments out there against this proposal, consisting of this solely being about money, or asking why a TLD should be focused so specifically when current TLD's are very broad in comparison. But I say, ignore the questions, ignore the issues.  Don't just open up .eco.  No, that's not good enough.  I want a environmental wacko "red light district".  Every alarmist blog, website, non-profit and lobby should be forced to move their web presence to .eco.  Which...
  • Utah: Rated R for Ridiculous

    March 10, 2009
    Utah is on the verge of using it's 'Truth in Advertising' bill to pass regulated enforcement of video game ratings.  The bill which was in some part drafted by Jack Thompson, the disbarred anti-violent games attorney from Florida, would fine retailers that sold games to underage customers up to $2,000 per incident. The catch?  This only applies if they advertise that they conduct age verification, essentially encouraging retailers to remove all advertising that they check ID's or age in some manner.  Retailers would be better off in this case not advertising in any way that they train employees to verify age before selling age restricted games.  This way if a slip up occurs—as it eventually will—the retailer wouldn't be held accountable. The legislation takes a giant step back considering that...

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