Auto Bailout, Internet Privacy, and the Regulation of the Day
A recent editorial in The Washington Post notes that only 16% of auto industry executives supported the Chrysler bailout.
"I think the bailout was a bad idea, for the reasons I list in my own commentary at this link, where I also chronicle how the Obama administration has deceived the public about the cost and consequences of the bailouts, and disseminated misleading claims by GM about allegedly repaying taxpayers. As the Washington Post editorial board, which has not endorsed a Republican for president since 1952, noted, the bailout sent a harmful “message” that the automakers are 'too big to fail.'"
California State Senator Ellen Corbett's social networking bill (S.B. 242) failed by five votes last week, though Corbett has promised to keep her efforts going.
"Corbett’s legislation (S.B. 242) would force social networking sites to alter their privacy settings to ensure that no user’s personal information is ever made available to the public without that individual’s explicit permission. The bill’s definition of personal information encompasses names, addresses, phone numbers, locations, and global positioning coordinates. It also includes more sensitive items such as social security numbers, savings account numbers, and credit card numbers. The scope of information covered by the legislation is especially worrisome. Most individuals’ names, addresses, and phone numbers are already a matter of public record. Why should government dictate the default sharing settings of social networks? Users who are wary about publicizing their phone number or email address aren’t required to disclose any information to social networking sites."
Regulation of the Day